AmplifyBio to make substantial investment in New Albany business park
AmplifyBio, a biotechnology contract research organization, is investing roughly $150 million in a new 350,000-square-foot facility at 9885 Innovation Campus Way in the New Albany International Business Park.
Along with the investment, the company is also creating 263 new jobs across both its new location and its existing West Jefferson location. Hiring for research and development positions is to be ongoing through 2022.
Company officials announced their plans through a press release May 23.
AmplifyBio is supporting advanced therapies using a variety of modern clinical and commercial drug development solutions, according to the press release.
“The company focuses on safety, efficacy and toxicology testing for best-in-class and advanced therapy drug candidates to accelerate the development of scalable products,” the release said.
“In 2021, AmplifyBio raised $200 million in early-stage venture capital investments – the second largest (venture capital) investment in the Columbus region last year.”
AmplifyBio is to take over a spec building developed by Indianapolis-based Scannell Properties.
New Albany City Council Aug. 24 voted 7-0 to approve Scannell Properties’ proposal, which involves a single 354,640-square-foot building on roughly 33 acres just west of Mink Road.
That came with a 15-year, 100% tax abatement in return for an annual payroll of $10.7 million.
“We are excited to welcome AmplifyBio as one of the newest investors in New Albany’s international business park,” New Albany Economic Development Manager Michael Loges said.
“New Albany’s high-quality, shovel-ready development sites have proven successful in attracting leaders in the health and life sciences sector, such as Amgen,” Loges said. “Each investment for a company is a bet on likely success and this is just the last example of companies doubling down on New Albany and our region’s skilled workforce.”
“When our clients need to quickly establish and scale operations, they know that they can achieve success in New Albany because we have made all the necessary investments to welcome them while reducing their development costs,” Jennifer Chrysler, New Albany’s director of community development, said in a prepared statement.
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@ThisWeekGary
