The Texas Life-sciences Collaboration Center recently announced a grant from the U.S. Department of Commerce to assist in the recruitment of foreign companies to Georgetown. The $300,000 grant from the Economic Development Administration, a bureau within the U.S. Department of Commerce, will assist TLCC in recruitment of companies from South Korea.
The grant will support a center within the Texas Life-sciences Collaboration Center to facilitate relocation of foreign life science manufacturing companies seeking to expand to Texas, with particular focus on Korean companies.
Services for Korean life sciences companies at the center could include embassy relations, foreign relocation specialists, workforce development assistance, training programs at Texas State Technology College, research assistance, and contract manufacturing organizations.
According to Michael Douglas, executive director of TLCC, the grant is part of a $600,000 project that will create an estimated 500 jobs in the next several years.
Georgetown Mayor Dale Ross, Michael Douglas, and Congressman John Carter (pictured below) spoke at the grant announcement event on October 9.
The announcement was held in the new TLCC building that is currently under construction. When completed, the new facility will include clean-room manufacturing space for the production of biotech materials, implant devices, pharmaceuticals, and other products.
DisperSol is one TLCC company that plans to expand into the new building. DisperSol has developed technology that allows for the more ready absorption of new drug compounds.