The Pima County Board of Supervisors June 4 unanimously approved an intergovernmental agreement with the Town of Oro Valley in support of a biotech industry incubator facility.
The planned biotech incubator will be built in Innovation Park in Oro Valley and operated by the nonprofit Oro Valley Innovation Labs. The Board action allows Pima County to allocate up to $60,000 for development of a planned 4,000-square foot incubator space. The allocation matches what the Town of Oro Valley has already pledged. The County will provide funding over the current and following fiscal years.
Support for the biotechnology and bioscience industries is an important part of the County’s Economic Development Plan and the goals set forth therein. These industries develop medical treatments, pharmaceutical products, and agricultural technologies, among other important technological advances that benefit the health and welfare of the public. In addition, biotechnology and bioscience companies provide the highest average annual wage employment opportunities in the state.
“There is a critical need in our region for accelerators to take innovative companies to the next level of growth,” said John Moffatt, director of the Pima County Economic Development Office. “Oro Valley is already recognized as a hub for the Life Sciences and we’re really pleased to be working with Oro Valley, the University of Arizona and the Bioscience community to help spur high-wage job creation in Pima County.”
The biotech incubator is intended to add to the growing high-tech industry in Pima County by providing space for nascent businesses to conduct research and product development. A major operating partner of the facility will be the University of Arizona’s Campus Research Corporation, which operates the successful Arizona Tech Park on South Rita Road. Other partners include Venture West, Roche-Ventana and Icagen.