Austin Welcomes Major Life Sciences Expansion with BillionToOne
Austin is gearing up for a significant boost in the life sciences job market as more than 1,000 new positions are expected to emerge in the coming years. The excitement comes after a California-based molecular diagnostics company, BillionToOne, announced plans to build a substantial facility in the city.
New Facility on Parmer Lane
On Wednesday, BillionToOne broke ground on a 220,000-square-foot facility that will comprise six buildings located in the EastVillage ATX development on Parmer Lane, close to Samsung Austin Semiconductor. This move marks a pivotal moment in the city’s ongoing effort to strengthen its life sciences sector, which city and business leaders consider a vital part of the local economy.
Local Leaders Praise the Move
During the announcement, local political and business leaders gathered to celebrate the event. Austin’s Mayor, Kirk Watson, emphasized the city’s attributes such as its vibrant culture and appeal to the youth, as key factors influencing BillionToOne’s decision to expand in Austin. “BTO points to Austin’s energy and culture and attractiveness to young people as a key reason for choosing to expand here,” Watson stated. He noted the significance of local educational institutions, including the University of Texas, Huston-Tillotson University, Concordia University, and others, in attracting and training skilled professionals in the area.
BillionToOne’s Focus on Diagnostics
BillionToOne specializes in prenatal and oncology diagnostics. As of late last year, the company was valued at over $1 billion after raising more than $100 million in funding. The new facility is projected to conduct up to 6 million molecular diagnostics tests each year and will offer a range of job opportunities, from lab technicians to post-doctoral researchers.
Development Timeline and Partnerships
The new development, which is being managed by California-based Tarlton Properties, is expected to be fully operational by the end of 2026. CEO John Tarlton expressed appreciation for the collaboration with the city and the effort of local partners, including STG Designs and White Construction, that made this project possible. “It has been a pleasure to work with the city of Austin, and we look forward to continuing the partnership,” Tarlton remarked. He shared memories of how BillionToOne began with just a small team of four and has since experienced remarkable growth.
No Incentives for the Move
Interestingly, no incentives were utilized to finalize this deal for BillionToOne to establish itself in Austin. Local leaders had hinted at this major announcement since late last year, speculating about its potential location. Initially, there was discussion about a site near the UT’s J.J. Pickle Research Campus on Burnet Road. In November, the City Council made changes to the Land Development Code to accommodate life sciences and lab facilities in the area, which is also being eyed for semiconductor industry expansion.
Future of Life Sciences in Austin
There are also plans for another significant site— the former 3M campus in Northwest Austin, which spans 156 acres. Karlin Real Estate LLC is seeking smaller tenants to fill the space, demonstrating the area’s growing appeal within the life sciences sector.
In a statement, Ed Latson, CEO of Opportunity Austin, expressed excitement about BillionToOne’s expansion, saying, “We are thrilled to welcome BillionToOne to the Austin region. Their decision to expand here aligns with the strategic focus outlined in our new Life Science Study conducted by McKinsey.”
Austin’s Emerging Role in the Life Sciences Sector
This move not only strengthens Austin’s position as an emerging life sciences hub but also highlights the city’s unique technology foundation that continues to draw world-class companies. As the demand for advanced diagnostics grows, Austin is set to become a key player in the life sciences field, which could bring new opportunities and innovations to the area.
