San Antonio gives biotech firm incentive to relocate

  • 2015-06-30
The San Antonio City Council has approved an economic development grant on behalf of a German biomedical company.

Cytocentrics, which was founded in Rostock, Germany, will receive a $1m grant as an incentive to move its headquarters to San Antonio.

Cytocentrics has guaranteed that it will create 300 well-paying jobs, as well as partnering with local organizations such as Alamo Colleges, and the University of Texas Health Science Center. In return, San Antonio will pay the grant to Cytocentrics over a five-year period.

The base salary for the various jobs is approximately $50,000, with some positions offering salaries of around $70,000. The company has also said it will make a capital investment of at least $15m in San Antonio.

Cytocentrics makes and sells medical equipment, including patch clamps, which are used in electrophysiology—the study of electric currents in cells. The clamps enable researchers to study multiple or single ion channels within the cells.

The city council approved the grant with a 9-0 vote in favor. Councilman Ron Nirenberg was absent, but registered his approval of the vote. Councilman Joe Krier was also strongly in support, as Cytocentrics will locate its operation in his district, at least at first.

Officers might consider working with a brochure printing company on a booklet describing their products and the positions they're offering, and make it available to employment agencies in San Antonio.