The U.S. Economic Development Administration has awarded a $1.8 million grant with matching state and local funds to jumpstart the construction of the Biomedical Innovation and Research Park (BRIP) in Monroe, LA.
The facility, which is expected to cost about $34 million, will serve as an incubator for life science companies and start-ups to develop their business models. The facility would be located next to the University of Louisiana-Monroe School of Pharmacy, with construction beginning this year. Within five years, the facility is expected to bring 175 jobs to the area.
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