Cofactor Genomics opened the company's newly designed $3.8 million headquarters and laboratory facility in St. Louis, Missouri. As part of this expansion, the company plans to hire 24 new employees, tripling its current employment.
The company purchased and renovated a 10,000 square-foot space to house its new headquarters, sequencing labs and data analysis offices. The additional space and equipment will allow the company to better serve its growing client base.
Cofactor Genomics is a Contract Research Organization that was founded in St. Louis in 2008 to provide beginning-to-end DNA sequencing, analysis and experimental design solutions to both private and public clients.
"Missouri provides the right environment and opportunities for a DNA sequencing, analysis and design company to grow," said Jarret Glasscock, Chief Executive Officer of Cofactor Genomics. "As a young company, Missouri's business-friendly climate and diverse resources have played a key role in helping us compete in a global market. We're excited to be located in the Cortex district of St. Louis, a place we perceive as the heart of biotech in the Midwest."
"Missouri's low taxes, highly skilled workforce and targeted investments in growing industries like the biosciences helped our state achieve the third fastest technology job growth in the nation last year," Gov. Jay Nixon said. "Today's announcement of new jobs and new investments by another successful bioscience company is good news for St. Louis and the entire State of Missouri. I'm pleased my administration can support Cofactor Genomics' expansion, as we work together to create jobs and move Missouri's economy forward."
"Cofactor Genomics is another example of how today's high-growth industries require a highly skilled workforce in order to succeed," Gov. Nixon said. "That's why we must continue to make strategic investments in our workforce and our education system to ensure that Missourians can continue to compete and win in today's global economy."
To assist Cofactor Genomics with its expansion, the Department of Economic Development authorized a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria.