A South Korean life sciences company, 3billion, is set to establish a genetic testing lab in North Austin, which could lead to the creation of up to 200 jobs. Last week, the Austin City Council approved a $200,000 economic development agreement with the AI-driven biotech company based in Seoul. The new facility will span 13,000 square feet and is located at 13620 Ranch-to-Market Road 620, near the Applied Materials manufacturing site east of Lakeline Mall.
The company plans to invest approximately $8.1 million into the lab, which translates to about $623 per square foot. Under the terms of the agreement, the city will provide $1,000 for each job created, with 3billion projecting an average salary exceeding $95,000 for the full-time positions over the next ten years. The lab is expected to begin operations in the second half of 2026.
Stacey Schmitt, Chief Operating Officer of Opportunity Austin, highlighted the significance of this project during the city council meeting. “This project is meaningful to Austin because it will create 200 jobs, and it will really be able to strengthen our life sciences ecosystem,” she stated. Schmitt emphasized that the initiative represents a collaborative effort to enhance the local life sciences sector while attracting an international company committed to leveraging local talent.
The establishment of 3billion in Austin marks the latest expansion in the region’s growing life sciences and genetic testing industry. Earlier, BillionToOne, a California-based firm, announced plans to invest $44.5 million in a new lab in North Austin, which aims to employ approximately 1,000 people by its completion in 2027.
As 3billion sets its sights on North America, Austin’s reputation as a burgeoning hub for biotechnology and genetic testing continues to strengthen. The city’s strategic support for such developments is expected to yield substantial economic benefits, estimated at around $2.3 million over the next decade.
The addition of 3billion to Austin’s life sciences landscape aligns with broader efforts to foster innovation and improve healthcare quality in the region. As the company prepares to launch its operations, the local community looks forward to the potential advancements in genetic testing and related fields.
