NTxBio to Build New Facility in Plano, Creating 170 Jobs
Introduction to NTxBio and its New Facility
Texas Gov. Greg Abbott announced that NtxBio, a health care biomanufacturing company, is building a new facility in Plano.
The $31 million facility will reportedly create 170 jobs assembling biomanufacturing instruments using domestically produced raw materials to advance treatments for cancer and rare diseases.
“I congratulate NTx on their leading efforts to advancing the healthcare industry in Texas with their next-generation biomanufacturing solutions. Working together, we will keep Texas on the cutting edge of biotech research and development and save more lives,” the governor said in a statement.
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Grant and Funding for NTxBio
The governor’s office noted the Rio Rancho, N.M.-based company has been awarded a $1.5 million Texas Enterprise Fund grant.
NTx president and CEO Jamie Coffin said the new manufacturing facility will augment its Rio Rancho facility.
“We are thrilled to expand into our new facility in Plano as we grow to keep up with demand for NTx’s biomanufacturing platforms,” Coffin said in a statement. “Texas has a booming biotech community and an incredible talent pool in biological and chemical engineering, and we look forward to being part of that ecosystem.”
NTxBio’s Contribution to Plano’s Medical Industry
The NTxBio facility adds to Plano’s growing medical industry.
The Texas Research Quarter, a $4 billion life sciences innovation district, received development approval and tax increment financing from the Plano City Council last year. Dallas-based NexPoint plans to build the district across 200 acres. The site is centered around a 91-acre campus once home to H. Ross Perot Sr.’s Electronic Data Systems.
NexPoint said multibillion redevelopment will occur in several phases. That work is expected to create more than 2,000 jobs. The finished development could create more than 30,000 jobs, according to city documents and previous Dallas Morning News reporting.
Impact on the North Texas Life Sciences Industry
“The North Texas life sciences industry is thriving, and Plano is rapidly establishing itself as a premier hub for innovation in this sector,” said Plano’s director of economic development Doug McDonald. “We are proud to welcome NTx to our growing roster of innovators and extend our gratitude to Governor Abbott and to Adriana Cruz with the Texas Economic Development & Tourism Office for their invaluable partnership in securing yet another milestone victory for Texas.”
Staff writer Nicholas Wooten contributed to this report.
Conclusion
In conclusion, the establishment of NTxBio’s new facility in Plano is a significant development for the city’s medical industry and the North Texas life sciences sector as a whole. With the creation of 170 jobs and a $31 million investment, this facility is expected to have a positive impact on the local economy and contribute to the advancement of treatments for cancer and rare diseases.
Frequently Asked Questions (FAQs)
Q: What is NTxBio and what does it do?
A: NTxBio is a health care biomanufacturing company that produces biomanufacturing instruments using domestically produced raw materials to advance treatments for cancer and rare diseases.
Q: Where is NTxBio building its new facility?
A: NTxBio is building its new facility in Plano, Texas.
Q: How much will the new facility cost and how many jobs will it create?
A: The new facility will cost $31 million and create 170 jobs.
Q: What is the Texas Research Quarter and how is it related to NTxBio?
A: The Texas Research Quarter is a $4 billion life sciences innovation district being developed by NexPoint in Plano. While it is a separate project, it is also contributing to the growth of the life sciences industry in Plano, where NTxBio is building its new facility.
