PRESS RELEASE
Published on December 23, 1997
Governor Announces $4 Million Investment
in Chesterfield County
- Commonwealth Biotechnologies, Inc. to Create 30 New Jobs, Retain 35 -
RICHMOND - Governor George Allen today announced that Commonwealth
Biotechnologies, Inc. (CBI), will locate a new 30,000-square-foot
state-of-the-art facility in Chesterfield County's Gateway Centre. The $4
million investment will crate 30 new jobs for Virginians over the next
year-and-a-half while 35 jobs will be saved in the State. Virginia successfully
competed with Maryland for the project.
"Once again, Virginia's pro-business tax and reasonable regulatory
policies have attracted further investment by a high-technology company, further
securing our reputation as a high technology growth area," said Governor Allen.
"CBI's decision to locate in Chesterfield increases Virginia's presence in the
biotechnology arena."
CBI provides comprehensive analytical and synthetic chemistries to
assist the biotechnology and pharmaceutical industries in their research
efforts; including, but not limited to, high quality synthetic peptides and
DNA/RNA/PNA, protein and DNA sequencing, amino acid analysis, mass spectrometry,
calorimetry and monoclonal and polyclonal antibodies. The company has been in
the biotechnology industry for the past five years.
"This new facility will allow CBI to more effectively serve its
existing client base and expand its capabilities to support the industry's
growth areas," said Dr. Richard J. Freer, Chairman of CBI.
"CIT has been assisting Commonwealth Biotechnologies since 1993 when
there was only one employee and 400 square feet of lab space. Their success
exemplifies the potential of technology companies that spin off from
universities, resulting in new high-wage, high tech jobs for Virginians. It's
also a win for the biotechnology industry, demonstrating Virginia's enormous
capacity for biotech growth," said Dr. Robert Templin, President of Virginia's
Center for Innovative Technology.
"We are delighted that Commonwealth Biotechnologies, Inc., is joining
the growing list of corporations choosing Chesterfield County as their home.
Chesterfield County wants to be the FIRST CHOICE business community, and CBI's
cutting-edge work in the field of biotechnology is a welcome addition to our
county's economic strength now and into the next century," said Chesterfield
County Board of Supervisors Chairman Art Warren.
The Virginia Economic Development Partnership, Virginia's Center for
Innovative Technology, the Virginia Small Business Financing Authority, and the
Chesterfield Department of Economic Development and its Industrial Development
Authority assisted the company with its decision.