NeoGenomics, Inc., a leading provider of cancer-focused genetic testing services, reported it intends to build a leading-edge cancer diagnostics testing facility and new global business headquarters in Fort Myers, Florida.
The new facility, which will be located on a 14 acre parcel of land close to the intersection of Alico Road and Three Oaks Parkway, is expected to open in 2021.
The site is a short drive from the existing NeoGenomics footprint in Fort Myers and remains in the vicinity of the Southwest Florida International Airport.
The 150,000-square-foot laboratory and headquarters facility, with space for additional expansion if needed, will incorporate innovative technology to deliver comprehensive oncology testing for physicians and their patients; the facility will span all available testing modalities including a state-of-the-art molecular lab with next generation sequencing capabilities. The laboratory will also support clinical trials for new oncology therapeutics.
The Florida Department of Economic Opportunity and Lee County agreed to support NeoGenomics’ expansion to encourage the company’s growth of high-paying jobs in a “high-impact sector” of the local economy.
Company officials explained the State agreed to support NeoGenomics with Florida State Capital Investment Tax Credits based on our investment of at least $25 million in the new facility and creation of at least 100 new jobs. “After we spend at least $25 million for the new facility and create the 100th new job, we would be entitled to an annual tax credit equal to up to 5% of the eligible capital costs for up to 20 years for the cost of the building, subject to the company’s ability to generate the income necessary to utilize the tax credits.”
Department of Economic Opportunity also agreed to provide State tax refunds beginning in 2022 based on our creation of at least 295 new jobs over five years at an average annual wage of at least $59,900. According to company officials, “as we hire people at that average wage level, we will be eligible for up to $1.77 million in tax refunds. “
In addition, Lee County has partnered with the State and has agreed to provide approximately $354,000 of economic support as we hire the 295 people at the targeted wage level.
“As a leading provider of cancer testing in the United States, NeoGenomics is deeply committed to deploying advanced diagnostic technologies to improve the quality of oncology care,'' said Douglas M. VanOort, NeoGenomics’ Chairman & CEO. “We are grateful to the State of Florida for their tremendous support as we build a new state-of-the-art laboratory and headquarters facility, add new jobs, and serve patients, physicians, healthcare organizations, and our communities in an even bigger way as we continue to grow in the future.”