Council Approves Loan to Start TX Biomed Expansion

By Bill O’Neil

San Antonio’s City Council gives a thumbs up to plans for helping the Texas Biomedical Research Institute begin a major expansion.

The City will loan the lab $250,000 to begin the process, which should mean the creation of several new positions.

“This expansion will also allow us to significantly increase the amount of research dollars flowing in to San Antonio” said the City’s Director of Economic Development Rene Dominguez, who pointed out the lab’s already existing economic power.

“They generate $112-million economic impact to our community every year” Dominguez said.

Mayor Ron Nirenberg is an enthusiastic backer of the plan–which will allow the City to recoup the loan at the time the lab secures federal cash for the expansion.

“Not only is this good for San Antonio in terms of economic impact and our profile within the biomedical industry… but the imprint we leave upon the world through the institution has been significant” Nirenberg said.

“This is solid work with a small amount of money that’s gong to have an impact” Councilman Greg Brockhouse said, sentiments echoed by the man in charge at Texas Biomedical Research.

“This will result in I think tremendous opportunities for economic development going forward” President and CEO Larry Schlesinger said.

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