Gov. Jay Nixon today joined officials from Cofactor Genomics to celebrate the opening of the company's new $3.8 million headquarters and laboratory facility in St. Louis. As part of this expansion, the company plans to hire 24 new employees, tripling its current employment.
Cofactor Genomics is a Contract Research Organization (CRO) that was founded in St. Louis in 2008 to provide beginning-to-end DNA sequencing, analysis and experimental design solutions to both private and public clients. Using multiple sequencing platforms and in-house bioinformatics, the company provides insightful discoveries to companies in the life sciences, pharmaceutical, agricultural and biofuels industries.
The announcement by Cofactor Genomics is the second CRO to recently expand in Missouri. Pharma Medica Research, Inc., a Toronto-based company that conducts research and development for pharmaceutical companies, announced plans to rehabilitate a building in St. Charles to expand its drug trials, investing $30.8 million dollars and creating 320 new jobs in the area.
An independent report recently found that Missouri had the third-fastest rate of technology job growth in the nation in 2012 and Missouri recently bested both California and New York for growth in technology jobs in the first half of the year.
To assist Cofactor Genomics with its expansion, the Department of Economic Development has authorized a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria.
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