Seguin EDC OKs $80K incentive package for biomedical manufacturer
Monday, February 05, 2018
A local biomedical manufacturer has announced its expansion with the assistance of the Seguin Economic Development Corporation (SEDC).
An $80,000 incentive package was approved for Cone Bioproducts to expand its new facility, which is expected to be built on State Highway 46.
The incentive was approved during a city council meeting.
As part of the package, Cone Bioproducts is expected to retain 20 jobs and establish an additional 15 positions over a five-year period, SEDC Executive Director Josh Schneuker said in a release.
Additionally, the new jobs’ average pay will exceed that of both the county and the San Antonio Metropolitan Area, he said.
Cone Bioproducts plans to invest about $2 million for the new 15,000 square feet modern manufacturing facility, situated on 2.5 acres on SH 46 just south of Court Street, Schneuker said.
“This expansion will result in the retention of the current levels of employment at the company and will add additional jobs, as well as capital improvements, which will add to the tax base of Seguin and other local taxing authorities,” he said.
The Seguin based company specializes in making in vitro diagnostics (IVD) products such as processed serum, controls, calibrators and albumin.