News Summary
Plano is set to enhance its local economy and healthcare sector with the establishment of NTxBio’s biomanufacturing facility. The facility is expected to create over 170 new jobs, backed by a $31 million investment. This move positions Texas as a hub for biotech innovation, focusing on the production of pharmaceutical-grade materials for therapies. NTxBio’s expansion aligns with developments in the Texas Research Quarter, promising substantial job growth and strengthening the local biotech community. The local government supports this initiative through a Texas Enterprise Fund grant.
Texas Governor Greg Abbott has announced that NTxBio, a biomanufacturing company, will establish a new facility in Plano, which is projected to generate over 170 new jobs and entail a capital investment exceeding $31 million. The project has also been awarded a Texas Enterprise Fund (TEF) grant of $1,479,000 to assist in its development.
Governor Abbott emphasized the significance of Texas as a leading center for innovative and life-saving medical research, highlighting the presence of numerous biotech and life science companies in the state. NTx aims to contribute to the healthcare industry by providing next-generation biomanufacturing solutions, producing pharmaceutical-grade raw materials specifically for RNA and protein therapeutics.
Founded in 2015, NTx recently announced its decision to expand operations by establishing the Plano facility, which will complement its existing site in Rio Rancho, New Mexico. The expansion is seen as a strategic response to the growing demand for biomanufactured products. NTx’s President and CEO, Jamie Coffin, expressed enthusiasm about the new facility and its potential to meet market needs more effectively.
The introduction of NTx’s biomanufacturing facility aligns with Plano’s ongoing growth within the medical industry, which is being supported by the formation of the Texas Research Quarter. This innovative district is expected to cover 200 acres and is projected to create over 2,000 jobs, with the potential to lead to a total of more than 30,000 jobs in the long run.
Doug McDonald, Plano’s Director of Economic Development, underscored the importance of NTx’s entry into the region, stating that it will enhance the life sciences community in Plano, which is already experiencing a surge of interest from leading innovators and companies. The presence of NTx is recognized as a crucial step in solidifying the area as a significant biotech hub.
Governor Abbott’s remarks further reinforced the collaborative efforts essential for maintaining Texas’s leadership in biotechnology research, which plays a vital role in saving lives through advanced healthcare solutions. NTx’s new manufacturing operations are designed to focus on producing instruments using domestically sourced raw materials for treating cancer and rare diseases.
Texas is widely recognized for its thriving biotech community supported by a strong pool of talent in biological and chemical engineering. With its commitment to fostering high-quality jobs and advancing healthcare innovation, the recent investment in NTx has garnered praise from state officials, including Senator Angela Paxton and Representative Katrina Pierson, who acknowledge the project’s potential benefits for the local economy and healthcare sector.
Plano’s current medical industry landscape is exhibiting rapid growth, with NTx’s investment expected to further elevate the area’s position as a center for corporate innovation in the biotechnology field. The industry’s expansion is expected not only to create substantial employment opportunities but also to foster advancements that can lead to improved healthcare outcomes in both Texas and beyond.
Deeper Dive: News & Info About This Topic
- Dallas News: $31M Biomed Manufacturing Plant Planned in Plano
- Wikipedia: Biomanufacturing
- Mega Doctor News: Governor Announces NTxBio Facility in Plano
- Google Search: Plano biomanufacturing
- Texas Border Business: Governor Announces NTxBio Facility in Plano
- Google Scholar: Biomanufacturing in Texas
- Builtin: Biotech Companies in Dallas
- Encyclopedia Britannica: Biomanufacturing
- D Magazine: DFW Healthcare Brief
- Google News: Biotech innovation Texas
