The nonprofit Pennsylvania Biotechnology Center (PABC) in Doylestown recently began a $19 million expansion project.
A total of 41 companies work at the location, but there are more than 70 member companies.
Expansion is expected to create more than 100 jobs and attract dozens of new companies and millions of dollars in commercial activity.
The state provided PABC with $4.4 million in grants, including a $430,000 grant through the Pennsylvania Department of Community & Economic Development’s Office of Technology and Innovation in August to develop laboratory space for COVID-19 research.
“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,” state Sen. Steve Santarsiero (D-Bucks County) 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.”
Santarsiero and PABC leadership gathered Sept. 17 to celebrate the ceremonial “Construction Kickoff.”
PABC-member companies employ more than 300 scientists, staff, and students. The facility is one of the most successful life sciences incubators in the country.
PABC has received $4 million in Redevelopment Assistance Capital Program grants since 2016.