The creation of a new medical testing company will result in hundreds of Texas medical jobs.
NewCo, which will locate in Lewisville, Texas, will create more than 900 jobs with a yearly payroll of $67.2 million, and inject $10 million worth of investments into the local economy. The company is a collaboration among Baylor Health Care System, U.S. Oncology and Texas Oncology.
The company plans to hire 320 employees during the next year, and will have more than 900 workers by 2014, with an average salary of $67,000. NewCo has already posted positions ranging from medical technologists to mailroom clerks.
"We are excited about this new venture as it will directly benefit our patients," Baylor COO Gary Brock said. "NewCo will help us bring advanced technology to North Texas cost-effectively. Tests that we currently have to send out of state for processing will now be handled here locally, and that means faster results for our patients."
The City of Lewisville plans to give the company a 75 percent tax abatement of business property for the first five years and 25 percent for the following five years. The city also will rebate 1 percent of general sales taxes on equipment for the first four years.
Although NewCo conducted a nationwide search to determine the best location for its headquarters, according to The Dallas Morning News, it chose Lewisville because of the city's proximity to Dallas/Fort Worth International Airport, major transportation routes and the area's skilled workforce and universities.
