Paragon Bioservices is receiving funding from the state and county as part of a plan to open a new biotech manufacturing facility in Anne Arundel County.
Earlier this year, the contract manufacturer of biopharmaceuticals announced plans for the new 150,000 sq. ft. facility near BWI. The company said it was aiming to add 200 jobs, and is aiming to open the location in the next two years.
This week, the state said that the company received a $600,000 conditional loan from the Maryland Department of Commerce. Additionally, Anne Arundel County is providing $60,000 in aid. The company is also eligible for tax credits from a pair of programs called the Job Creation Tax Credit and More Jobs for Marylanders.
The company has said the new site will allow expansion of its work with companies who are developing gene therapy and vaccine treatments. It will have equipment allowing production for clinical trials, as well as additional lab space.
“Our More Jobs for Marylanders program has been helping companies like Paragon Bioservices expand into different areas of our state and create good jobs for Maryland workers,” Gov. Larry Hogan said in a statement. “This new location will enable the company to take their work with gene therapy to the next level of development, and we are excited to help them grow in Maryland.”
Paragon Bioservices is currently based at the University of Maryland BioPark, and will keep that space with the expansion. However, some of the company’s business development and administrative activities will move to Anne Arundel County. The company said 200 people will continue to work at the BioPark location.
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