AUSTIN, Texas — Today, Opportunity Austin announced that the Austin region’s continued emergence as a leader in the life sciences industry has contributed to Texas receiving a 2024 Golden Shovel Award in the 12-million-plus population category from Area Development magazine—a national publication focused on corporate site selection and economic development. BillionToOne, a leading life sciences company, played a key role in earning this recognition with its investment and expansion in the Austin region, which is expected to bring around $175 million in economic growth to our area. The Golden Shovel award honors states for excellence in job creation and economic impact.
“The Austin region continues to establish itself as a national leader in life sciences, and the BillionToOne expansion is a defining moment in that growth,” Ed Latson, chief executive officer of Opportunity Austin, said. “Not only is this project bringing more than 1,000 high-quality jobs to our region, it’s deepening our ties to cutting-edge diagnostic innovation that will improve healthcare outcomes for people across the country.”
The Austin region’s life sciences sector continues to emerge as a key driver of innovation, economic growth and contributor to Texas’ economic development. The area now has more than 300 life sciences companies, with over 1.1 million square feet of specialized space under construction. Recent projects include MD Anderson’s expansion into the region with a new comprehensive cancer center and Enovis’ $25.5 million investment to double its manufacturing capacity in Cedar Park. These investments highlight the region’s increasing capacity to support research, manufacturing and commercialization, underscoring Austin’s competitiveness as a national life sciences hub.
“Austin’s vibrant culture and high concentration of exceptional STEM graduates from its nearby universities make it the ideal location for our expansion,” Oguzhan Atay, CEO of BillionToOne, said. “We’re excited to continue our mission of transforming molecular diagnostics—making them more powerful, accurate, efficient, and accessible—from our state-of-the-art Austin laboratory, which will have a capacity of processing up to 6 million high-complexity molecular diagnostics tests every year.”
To learn more about Opportunity Austin’s efforts to drive regional economic growth, visit opportunityaustin.com.
###
About Opportunity Austin
Opportunity Austin is the regional economic partnership fostering innovation, investment, workforce development, and livability across the Austin region. Harnessing the region’s unrivaled economic momentum, its mission is to be a force multiplier for businesses that share the drive for enduring prosperity. Ultimately, the organization improves the strength, power, and performance of our region and those who do business within it.
