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Plano Welcomes NTxBio’s New Biomanufacturing Facility

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 biotechnology company, will establish a new biomanufacturing facility in Plano. This project is expected to create over 170 new jobs and involves a capital investment exceeding $31 million. In recognition of this significant contribution to the local economy, NTxBio has received a grant of $1,479,000 from the Texas Enterprise Fund (TEF).

Governor Abbott emphasized that Texas stands at the forefront of groundbreaking and life-saving medical research, hosting thousands of biotech and life science firms. NTxBio aims to enhance the healthcare industry in Texas by providing next-generation biomanufacturing solutions. The facility will focus on producing pharmaceutical-grade raw materials that are essential for RNA and protein therapeutics.

Founded in 2015, NTxBio has seen rapid growth in response to the increasing demand for its innovations. The new facility will supplement the company’s existing operations in Rio Rancho, New Mexico, thereby expanding its capacity and reach in the healthcare sector.

The establishment of the NTxBio facility is part of a larger trend in Plano’s medical industry, which is experiencing significant growth alongside the development of the Texas Research Quarter. This $4 billion life sciences innovation district aims to develop a 200-acre area and is projected to create over 2,000 jobs, with potential for more than 30,000 jobs in the future.

Doug McDonald, the Director of Economic Development in Plano, noted that the arrival of NTxBio reinforces the region’s position as a life sciences hub. The thriving biotech community in Plano continues to attract leading innovators and companies, contributing to a robust economic environment.

Governor Abbott’s recent statement highlighted the collaborative efforts required to maintain Texas as a leader in biotech research, focusing on innovations that save lives. NTxBio’s manufacturing capabilities will specifically emphasize the use of domestically produced raw materials designed for treating cancer and rare diseases, thereby reducing reliance on external supply chains.

Texas is recognized nationally for its booming biotech sector supported by a strong talent pool specializing in biological and chemical engineering. This ecosystem has made the state an attractive destination for biotechnology firms seeking to innovate and grow. The investment from NTxBio has been praised by local lawmakers, including Senator Angela Paxton and Representative Katrina Pierson, who acknowledged the contribution to high-quality job creation and healthcare innovation.

Plano’s Mayor John B. Muns welcomed the new facility, citing it as a crucial player in driving corporate innovation within the city. The alignment of NTxBio’s goals with the overall growth of the medical industry in Plano signals a promising future for both the company and the community. As more companies are drawn to the area, the healthcare landscape in Texas is expected to continuously evolve and expand.

In summary, the establishment of NTxBio’s biomanufacturing facility in Plano not only represents a substantial investment in the local economy but also positions Texas as a leader in advanced healthcare solutions. With over 170 jobs being created and ongoing support for the biotechnology sector, the potential for long-term growth and innovation in Plano appears bright.