Plano Lands $31M Biomed Facility to Create 170 Jobs Tackling Cancer
Governor Abbott Announces NTxBio's New Plano Facility
Texas Governor Greg Abbott has announced that NTxBio, a leading healthcare biomanufacturing company, will be building a new state-of-the-art facility in Plano. This significant investment highlights Texas' commitment to advancing the biotechnology sector. The governor praised NTxBio for their efforts to keep Texas at the forefront of biotech research and development.
Creating 170 New Jobs in Plano
The new $31 million NTxBio facility is set to create 170 new jobs in the Plano area. These positions will focus on assembling biomanufacturing instruments using raw materials produced right here in the United States. This job creation is expected to provide a boost to the local economy and offer diverse opportunities for skilled workers.
State Support and Funding
NTxBio has been awarded a $1.5 million grant from the Texas Enterprise Fund to support their new Plano facility. This financial backing demonstrates the state's dedication to fostering growth in the biotech industry. The grant will help NTxBio expand its manufacturing capabilities and contribute to the development of innovative healthcare solutions.
Expansion Plans by NTxBio
Jamie Coffin, President and CEO of NTxBio, expressed excitement about the company's expansion into Plano. The new facility will complement their existing operations in Rio Rancho, New Mexico, allowing NTxBio to meet the growing demand for their biomanufacturing platforms. Coffin highlighted Texas' vibrant biotech community and skilled talent pool as key factors in their decision to expand.
Plano's Growing Medical Industry
NTxBio's new facility adds to Plano's rapidly expanding medical and biotech industry. The city is also home to the Texas Research Quarter, a $4 billion life sciences innovation district currently under development. This district is expected to create over 2,000 jobs in its initial phases, further establishing Plano as a premier hub for biotechnology and medical research.
Conclusion
The establishment of NTxBio's new facility in Plano marks a significant milestone for Texas' biotech landscape. With substantial investment, job creation, and strong state support, this development is set to enhance the region's healthcare manufacturing capabilities. As Plano continues to grow as a center for innovation, collaborations like this promise a bright future for the state's life sciences industry.
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