Bryan / College Station's BioCorridor is expanding with an estimated 75 new jobs coming in the next few years as Woodbolt International makes a move to expand from their office in Downtown Bryan.
But the move comes with a price for the city.
It's a growing company that's outgrowing its current space on North Main Street in Downtown Bryan.
Woodbolt International makes Cellucor, a fitness and health supplement.
Tuesday night the Bryan City Council signed off on more than $300,000 agreement to keep the company in Bryan.
The company is relocating next to Caliber Biotherapeutics with a new office building, warehouse, fitness center and testing facility on eight acres.
Bryan Mayor Jason Bienski says the 75 new jobs will average between $55,000 to $60,000.
"We've got to do all we can to try to keep these companies here and expand these companies here," said Mayor Bienski.
That includes a ten year abatement on property taxes as well as a $49,000 grant and $25,000 in waivers and permitting fees.
Under the terms of the agreement Woodbolt International will have to open their facility in the BioCorridor by April of next year with a property valued at least $9 million. They'll also be required to add 75 new employees in the coming years.
Woodbolt Owner Doss Cunningham tells us the BioCorridor is a good fit.
"Our alignment with those industries, that it would be a great home for us. We want to surround ourselves with other successful companies that are research focused," said Cunningham.
Groundbreaking is expected to begin by February or even sooner.
The College Station City Council has partnered up with Bryan on the BioCorridor and will have to also review and approve Bryan's incentive plan at their meeting Thursday, for the deal to become final.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.