More than $66 million in state grants for four projects within the Life Sciences sector that were approved last year are finally being released. The City of Roanoke will receive $15.7 million dollars for the shared wet/dry lab space business incubator it hopes to open in less than two years. That shared space lab project is a partnership that includes Virginia Tech’s Corporate Research Center, Johnson & Johnson Innovations, the Roanoke Blacksburg Technology Council, Virginia Western Community College and Carilion Clinic. Brad Boettcher is the Innovation Administrator for Roanoke City in the Department of Economic Development:
RICHMOND, VA – Governor Glenn Youngkin announced more than $66 million in state grants for four projects within the Biotechnology, Life Sciences and Pharmaceutical Manufacturing Cluster. These projects provide job creation, wage expansion, and broader economic growth throughout the Commonwealth.
“In order to make Virginia a leader in biotechnology, life sciences and pharmaceutical manufacturing, we have to accelerate our growth and create a best-in-class business environment for this industry,” said Governor Glenn Youngkin. “Each of these projects will bring jobs and opportunity across the Commonwealth and further our position as a national leader in these business sectors. ”
During the 2022 Special Session of the Virginia General Assembly, funding was approved for biotechnology-related projects throughout the Commonwealth. This funding is administered by the Virginia Department of Housing and Community Development (DHCD), in partnership with the State Council of Higher Education and a task force comprised of the Virginia Innovation Partnership Authority, Virginia Economic Development Partnership Authority, Virginia Initiative for Growth and Opportunity Board, State Council of Higher Education for Virginia and staff directors of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations.
The city of Roanoke will receive $15.7 million to create an advanced laboratory-incubator to develop new biotechnology companies across southwestern Virginia. This project includes partnerships with the Virginia Tech Corporate Research Center, Roanoke Blacksburg Technology Council, Virginia Western Community College and Carilion Clinic and provides a hub for Johnson and Johnson Innovations.