The City Council approved Thursday, Jan. 25, a five-year agreement with a California-based bioscience company to relocate its clinical lab facility, Veridia Diagnostics, to Round Rock.
Singulex, a diagnostics technology company, is moving its clinical laboratory facility from Alameda, Calif.
The company will move into an existing 36,000-square-foot facility at 106 Old Settlers Blvd. The company has signed a 5-year lease for the facility.
“Singulex will provide great jobs in a growing industry,” Mayor Craig Morgan said. “It says a lot about our community that they want to grow their business here. The move will expand our tax base and provide more economic activity in Round Rock.”
Guido Baechler, Singulex president and CEO, said a high quality of life, strong public education, health care infrastructure and affordable housing led the company to choose Round Rock.
The clinical diagnostics lab will test blood samples for physicians around the nation, with about 170 different tests currently offered. Several thousand samples are tested each week.
To qualify for economic incentive payments, Singulex must invest at least $250,000 into its facility and employ at least 100 full-time employees over a five-year period. The agreement calls for a $125,000 payment in 2019 and a $125,00 payment in 2020.
The Round Rock Chamber worked with the company and city officials on the relocation.
“The future of the bioscience sector is strong in Round Rock, and we are thrilled that Singulex chose our community,” said Ben White, Chamber economic development vice president.