Luxembourg-Based Eurofins Genomics Plans Louisville, Kentucky, Research Lab-Production Complex
The company will construct a 65,000-square-foot facility in Blankenbaker Station Business Park which will produce oligonucleotides, or oligos, which are synthetic DNA used in molecular diagnostic applications. Construction is expected to begin in April and be completed by the second quarter of 2023.
“The new facility will increase domestic production of oligos to combat current and future pandemics and empower a broader range of research in the molecular diagnostic field,” said Sumit Gupta, president of Eurofins Genomics. To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today approved Eurofins for up to $300,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Eurofins can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
“I am pleased to see Kentucky companies continue to do their part as we fight the COVID-19 pandemic,” Governor Andy Beshear said. “This investment by Eurofins Genomics will directly boost testing capabilities while also setting the company up for future growth and job creation in our state. I appreciate this commitment by leaders at Eurofins and hope to see the company continue to grow in the years ahead.”
The new facility will increase domestic production of oligo and reduce lead times to help support a market vulnerable to supply shortages. Production will support the company’s current partnerships with the U.S. Air Force and the U.S. Department of Health and Human Services. Oligos are critical for the detection of viruses and are used in PCR-based COVID-19 tests and a variety of other diagnostic applications.
2023 Top States for Doing Business Meet the Needs of Site Selectors
The Rise of Mid-Size U.S. Cities: The Industrial Development Boom
Front Line: Brownfields Offer Redevelopment Opportunities
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
2023 Top States Workforce Development Programs
Immigration: A Potential Fix for Labor Shortages?
Workforce Q4 2023