Genapsys, a California-based bioscience company, has chosen Westminster for its second location and plans to create about 240 new jobs in Colorado.
Colorado competed with California and Massachusetts for the new location of the company, which focuses on advancing access to genomic information for academic and clinical research purposes.
“Colorado is a fast-growing bioscience hub so we are thrilled to have Genapsys join our thriving state and help create good-paying jobs as we move Colorado forward,” Gov. Jared Polis said Wednesday in a statement.
The company’s expansion is expected to create about 240 new jobs, 15 of which will likely be remote jobs for workers in rural Colorado through the Location Neutral Employment Incentive worker program. The jobs will primarily be chemists, biologists, engineers and administrative workers with an average annual wage of $111,369.
Genapsys CEO Jason Myers said the Denver market has emerged as a life sciences and biotech hub. He said local talent from universities, favorable taxes and incentives will allow the company to quickly scale up and increase its research and development.
The company received up to $4.5 million in performance-based job growth tax credit incentives and a $75,000 worker bonus for creating 15 remote positions. The incentives will be paid out over eight years as the jobs are filled.
The Colorado Office of Economic Development and International Trade works with the governor on economic development and job growth through financial and technical assistance.
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