DOYLESTOWN, PA – September 18, 2020 – Construction has begun on a $19 million expansion of the nonprofit Pennsylvania Biotechnology Center (PABC), which is one of the nation’s most successful life sciences incubators. Last night, Senator Steve Santarsiero (D-10) joined with PABC leadership to celebrate with a ceremonial “Construction Kickoff.”
The PABC, located in Doylestown, has more than 70 member companies, 41 of which have operations in the facility. The expansion will lead to more than 100 additional jobs at the center, with dozens of new companies and millions of dollars in commercial activity. PABC-member companies currently employ more than 300 highly skilled scientists, staff and students.
“Entrepreneurs at the Pennsylvania Biotechnology Center have produced more than $2 billion in company value, created hundreds of new jobs and launched several publicly traded companies,” Sen. Santarsiero said. “Our state investment not only spurs further economic growth to the area’s biotech sector, but it has the added benefit of helping to save lives and to improve the quality of life for many.”
The PABC has received $4.4 million in grants from the Commonwealth of Pennsylvania, for which Sen. Santarsiero has been a strong advocate. Since 2106, PABC has received $4 million in Redevelopment Assistance Capital Program (RACP) grants. In August, they received $430,000 through the Pennsylvania Department of Community & Economic Development’s (DCED) Office of Technology and Innovation to develop laboratory space for COVID-19 research through the COVID-19 Vaccines, Treatments and Therapies (CV-VTT) program.
“We are confident in Pennsylvania’s future, as our investment in this major expansion clearly demonstrates,” Timothy M. Block, Ph.D., founder, president and CEO of the PABC, said. “We also appreciate the vote of confidence in our operation by state legislators and federal officials, who provided the grants needed to move our project forward.”
For more information, visit the PABC website.