Pennsylvania Department of Community and Economic Development
PA DCED Secretary Announces Five Economic Development and Technology Investment Projects That Will Create Nearly 500 Biosciences Jobs in Pennsylvania HARRISBURG, Pa., June 13 Pennsylvania Department of Community and Economic Development (DCED) Secretary Dennis Yablonsky today announced Governor's Action Team (GAT) projects for five Biosciences companies that were offered approximately $5 million in state assistance to create and retain nearly 500 jobs in Pennsylvania. "The bioscience industry is transforming the commonwealth's economy by supporting new companies, creating jobs and contributing to community growth," Yablonsky said. "Today's announcements demonstrate the commonwealth's commitment and tradition to innovation through our forward thinking and dedication to the life sciences industry. Projects like these ensure our continued growth and success in this constantly evolving industry throughout Pennsylvania and beyond." Yablonsky announced the following GAT projects: Agentase LLC is expanding its Allegheny County operations by relocating to a new facility in Harmar Township. The chemical engineering company completed the Research & Development (R&D) phase for its new products and needs to relocate to a facility with wet chemistry lab space. At least 54 jobs will be created within three years and 22 existing employees will be retained. The Governor's Action Team (GAT), economic development professionals who report directly to Gov. Edward G. Rendell and Yablonsky, and the Allegheny County Department of Economic Development worked with Agentase on this project. DCED offered the company a $328,300 funding package that includes: a $200,000 Small Business First (SBF) loan; a $50,000 Opportunity Grant; $24,300 in Job Training Assistance (JTA); and $54,000 in Job Creation Tax Credits (JCTC). Agentase is focused on the development and implementation of biocatalysts. Its products include anti-chemical warfare/terrorism sensors and pesticide remediation. Charles River Laboratories has outgrown its current Exton facility and plans to relocate to a new 60,000-80,000-square-foot facility in southeastern Pennsylvania. A location has not yet been determined. The company, a provider of solutions that advance the drug discovery and development process, will create at least 36 jobs within three years and retain 92 existing employees. DCED offered the company a $1.08 million financial package that includes: $450,000 Machinery and Equipment Loan Fund (MELF); $300,000 Opportunity Grant; $150,000 JTA; and $180,000 JCTC. Charles River Laboratories' products and services are designed to enable its clients to bring drugs to market faster and more efficiently. Integrated BioSciences Inc. (IBS) is expanding its existing Lewisberry, York County facilities and infrastructure by purchasing additional equipment and hiring new employees. At least 65 jobs will be created within three years and the company, which is a complete contract manufacturer of medical devices, automated equipment and "box build" electronics, will retain 22 existing employees. DCED offered the company a $705,000 funding package that includes: a $500,000 loan through MELF; a $75,000 Opportunity Grant; and $130,000 JCTC. IBS is an FDA registered, ISO 9001:2000 certified manufacturer that offers total project management for class I and II medical devices for companies looking to outsource the manufacture of their products, automated equipment or entire manufacturing programs. Isolagen Inc. has expanded operations by relocating its Texas headquarters and R&D to its existing Exton, Chester County, facility. The company, which specializes in the development and commercialization of cellular therapies for soft and hard tissue regeneration, will create at least 140 new jobs within three years. DCED offered Isolagen a $1.7 million financial package that includes: a $500,000 loan through MELF: a $400,000 Opportunity Grant; $100,000 JTA; and $700,000 JCTC. The company's technology process has potential applications in cosmetic dermatology, cosmetic surgery, periodontal disease, reconstructive dentistry and other therapies. Isolagen has five secured patents and five additional patents pending. NanoDynamics Inc. has four existing business units and is creating a new division in the City of Pittsburgh - ND Life - in collaboration with the McGowan Institute of Regenerative Tissue. At least 50 jobs will be created by the company, which will leverage existing expertise in nanotechnology-based products to address needs and opportunities in the life sciences marketplace. DCED offered NanoDynamics a $1.15 million funding package that includes: a $500,000 loan through MELF; a $200,000 loan through SBF; a $200,000 Opportunity Grant; $100,000 JTA; and $150,000 JCTC. NanoDynamics is a leading manufacturer of nanomaterials to improve the form, function and performance of industrial and consumer products. The new division is located in the Pittsburgh Life Sciences Greenhouse. "Today's announcements further demonstrate the commonwealth's leadership in supporting this important industry," said Fritz Bittenbender, president of Pennsylvania Bio, the state biosciences trade association. "From tradable R&D tax credits, to the Life Sciences Greenhouse Initiative, venture capital programs and more, Pennsylvania has created an environment that helps grow and sustain bioscience companies. With the continued support of the governor and the legislature, Pennsylvania will be a global leader in the biosciences." BIO International handpicked the commonwealth as the 2005 host state for the BIO 2005 Annual Conference, taking place June 19-22 in Philadelphia. For information on DCED funding, visit http://www.newpa.com. For additional information on Pennsylvania Bio, visit http://www.pennsylvaniabio.com. For information on each of the five companies announced today, visit the following websites: http://www.agentase.com; http://www.criver.com; http://www.ibiosci.com; http://www.isolagen.com; http://www.nanodynamics.com. CONTACT: Penny Kline, Pennsylvania Department of Community and Economic Development, +1-717-783-1132. --------------------------------------------------------------------- ----------- Source: Pennsylvania Department of Community and Economic Development http://www.arizonabiotech.com/ http://groups.yahoo.com/group/biotech-news/ http://www.stoneagedesigns.net/ http://www.navending.com/ http://www.sell2us.net/ http://smsac.blogspot.com/ http://www.auntiebelhams.com/ http://www.serenitygroup.com/ http://www.yainc.net/ ------------------------ Yahoo! Groups Sponsor --------------------~--> What would our lives be like without music, dance, and theater? 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