International Bioscience Firm to Establish U.S. Operations in St. Louis and Create 80 Jobs
SyMyco is a subsidiary of Symbiotic Sciences Ltd. (headquartered in New Delhi, India), and a joint venture partner with Mycorrhizal Applications Inc., an Oregon company. The company's products reduce the need for chemical fertilizers, while increasing crop yield and resistance to weeds and disease.
Company president Aditya Malhotra said SyMyCo's decision to choose Missouri and was directly influenced by its proximity to the world's largest independent plant science institute, and its state-of-the-art greenhouses and other facilities. Missouri is home to 4,000 bio-tech, agribusiness and life science companies, and is a recognized leader in biotechnology and a growing international center of biopharmaceuticals, biomedical research and plant science.
"At SyMyco, we appreciate the accessibility to the intellectual capital of world-renowned plant scientists and vital facilities that the Danforth Center campus offers," said Malhotra. "Because of this, we believe that establishing our U.S. base at BRDG Park is an ideal platform to help us grow our business and to deliver technologies to farmers that will not only enhance their profitability, but will also help them do so in a more sustainable manner."
To support the project, the state of Missouri authorized an incentive package that includes a low-interest loan of $250,000 from the Missouri Technology Corp. to build a specialized growth chamber, and $1 million in Missouri Quality Jobs Program tax credits (given to the company after a specific number of jobs are created).
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