The Economic Development Administration (EDA) has awarded the City of Murrieta, California, a $2.4 million grant to renovate the Murrieta Innovation Center and to create a life science business incubator.
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By assisting entrepreneurs in the life sciences, emphasizing biotech, MedTech, and health tech, the investment is projected to boost company growth and generate high-paying employment. This initiative will help entrepreneurs, startups, and non-profit organizations in the biosciences industry build their businesses and create jobs. The EDA investment will be matched by $607,478 in local funding, resulting in 260 new employment, 61 job retentions, and $123 million in private investment.
“California’s thriving life sciences industry is a source of pride and an important economic driver in hubs throughout the state.” “This grant for Murrieta will support pioneering startups and entrepreneurs in the region, fostering innovation and propelling job growth well into the future.”Governor Gavin Newsom
The funds will be used to build Riverside County’s second wet lab and the first in the Southwest Riverside County area. The money will also be used to build a cleanroom and new dry lab and renovate the center’s current office and conference rooms.
“It will support high-paying jobs and will help carve the path for life-changing medical advancements, solidifies Murrieta as the home of innovation in the region. The Murrieta City Council is incredibly proud of our team for securing these funds and is proud to support this grant with a local match.”
Kim Summers, the city manager of Murrieta, thanked the EDA for their foresight and support of the city’s objectives.
“Our City Council and staff have worked diligently over the past decade to ensure that Murrieta is seen as the hub of innovation in this region. Receiving this grant will allow us to further expand the services and opportunities we can offer in the life science field, which means more innovation is to come from our community, and we couldn’t be more proud,” shared Summers.
The next stage will be a request for proposals (RFP) to design the new wet lab, clean room, creative office space, and MIC upgrades. At murrietaca.gov/Bids.aspx, you may sign up to get RFP updates.
Please visit the Economic Development Agency of the United States Department of Commerce’s website to read the press release.
About Murrieta Innovation Center (MIC)
The Murrieta Innovation Center (MIC) is the primary incubator for life science startups in Southwest Riverside County. The Murrieta Innovation Center (MIC) is a dedicated building constructed by the City of Murrieta in 2012 better to serve the region’s entrepreneurial and startup sectors. The MIC was contracted to local 501(c)3 Impact Southwest Riverside County in 2020 by the City of Murrieta. There are now nine biotech startups working out of the MIC.