When looking for a new location for corporate offices, Rockville-based Novavax found that the city of Gaithersburg stood out for more than one reason, according to Mervyn L. Hamer, the company’s vice president of manufacturing.
Hamer told Mayor Sidney Katz and city council members Monday that Gaithersburg not only has a financial incentive to offer the company, but also a good working environment.
Novavax, a clinical-stage biopharmaceutical company that creates vaccines, employs about 110 workers at its current space at 9920 Belward Campus Drive.
The company is negotiating with Gaithersburg to develop an agreement that would provide them a financial incentive to help renovate about 74,000 square feet of manufacturing, lab and office space at 20 and 22 Firstfield Road.
Under the agreement, the city will provide $3 per square feet, up to $150,000, according to a city document.
Hamer said Monday that Gaithersburg recognizes the needs of new biotech communities.
“I think that everyone recognizes that the road to new vaccine and biologics is a long and expensive one, and so incentives like these really do play a big part in the decision making process to locate facilities,” he said.
The incentive is part of the city’s Economic Development Opportunities program, established in fiscal 2011.
Katz welcomed the company to Gaithersburg on Monday.