AUSTIN, Texas — Another tech company is expanding to Austin, furthering the city's reputation as a hub for life sciences and biotechnology.
It is a goal that Opportunity Austin CEO Ed Latson wants to make happen for the city.
"It's been a really strong part of our economy that we haven't been talking that much about," Latson said. "We feel like we're positioned to be one of the best life sciences communities in the country."
On Wednesday, BillionToOne, a life science company based in California that specializes in molecular diagnostics, broke ground on a new facility on Parmer Lane. The company's decision to expand to Austin pairs with a recent life sciences survey conducted by Opportunity Austin.
Once completed, the facility will bring more than 1,000 new jobs to the city.
"This project exemplifies what happens when city leaders and professional staff, economic developers industry pioneers and innovative thinkers all come together to align on a shared vision for the future," Austin Mayor Kirk Watson said at Wednesday's groundbreaking. "Today’s announcement exemplifies what happens when city leaders and staff, economic developers, industry pioneers, and innovative thinkers come together to align on a shared vision for the future. It exhibits the success of our culture and talent and allows a streamlined process to work, allowing the company to move quickly and do what it does best.”
“We are thrilled to welcome BillionToOne to the Austin region," Latson said. "Their decision to expand here aligns with the strategic focus outlined in our new Life Science Study conducted by McKinsey. This move not only strengthens our position as a burgeoning life sciences hub but also showcases Austin’s unique technology foundation that continues to attract world-class companies.”
Dr. Philip Sanger, who invests in health companies, says Austin has all the makings of a healthcare hub.
"You've got a very innovative, large university. You've got an innovative new medical school with a lot of good talent and then you've got all the different systems and providers here that you know can work together," Dr. Sanger said. "People want to come here for life sciences because there's a lot of ability to attract good talent."
By bringing more jobs and boosting investments in life science and technology, city leaders are confident in strengthening Austin's position in innovation.
"With innovation, with the political situation, with the university and with all the providers, it enables you to be able to develop new products, you know, such as AI products, AI or artificial intelligence and digital health are going to be huge in Austin," Dr. Sanger said.
The new facility is set to be completed by 2026. Jobs will range from logistics to technicians to post-doctoral researchers.
Boomtown is KVUE's series covering the explosive growth in Central Texas. For more Boomtown stories, head to KVUE.com/Boomtown.