{"id":159082,"date":"2026-02-10T23:14:08","date_gmt":"2026-02-10T23:14:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/159082\/"},"modified":"2026-02-10T23:14:08","modified_gmt":"2026-02-10T23:14:08","slug":"austin-approves-hiring-incentive-for-genetic-testing-lab-near-cedar-park","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/159082\/","title":{"rendered":"Austin approves hiring incentive for genetic testing lab near Cedar Park"},"content":{"rendered":"<p>\t\t\t\t\t\t\tThe <a href=\"https:\/\/www.austintexas.gov\/\" rel=\"nofollow noopener\" target=\"_blank\">city of Austin<\/a> approved an economic development incentive with <a href=\"https:\/\/3billion.io\/\" rel=\"nofollow noopener\" target=\"_blank\">3billion US Inc<\/a>.\u2014a South Korean genetic testing company\u2014for the company&#8217;s first U.S. branch, slated for northwest Austin near <a href=\"https:\/\/www.cedarparktexas.gov\/\" rel=\"nofollow noopener\" target=\"_blank\">Cedar Park<\/a>. <a href=\"http:\/\/www.austintexas.gov\/austin-city-council\" rel=\"nofollow noopener\" target=\"_blank\">Austin City Council<\/a> voted in favor of the incentive Feb. 5.<\/p>\n<p>The details<\/p>\n<p>The program will award $1,000 to 3billion for every job the company hires\u2014up to $200,000 in total over a 10-year period. The company is expected to create 200 full-time jobs with an average salary of $95,000, according to a <a href=\"https:\/\/services.austintexas.gov\/edims\/document.cfm?id=466934\" rel=\"nofollow noopener\" target=\"_blank\">news release<\/a>.<\/p>\n<p>The city also anticipates roughly $2.3 million in fiscal benefits over 10 years, including property tax, sales tax and utility revenues, the release states.<\/p>\n<p>&#8220;This expansion enables 3billion to bring our high-quality, AI-powered rare genetic disease diagnostic services directly to patients across the United States while creating high-wage jobs for local talent,&#8221; 3billion CEO Changwon Keum said in a statement.<\/p>\n<p>The incentive agreement will result in an estimated $8 million direct economic impact for the community, according to the release.<\/p>\n<p>About the company<\/p>\n<p>3billion is a Seoul, South Korea-based company that provides genetic testing to detect rare diseases. City documents laid out details about the lab the company is building along SH 45 just east of US 183:<\/p>\n<p>Address: 13620 RM 620, AustinSize: 12,994-square-foot genetic testing labOutput: up to 50,000 genetic tests a year<\/p>\n<p>&#8220;&gt;<\/p>\n","protected":false},"excerpt":{"rendered":"The city of Austin approved an economic development incentive with 3billion US Inc.\u2014a South Korean genetic testing company\u2014for&hellip;\n","protected":false},"author":2,"featured_media":159083,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[132,27730,134,133,2536,2537,65363,65364,65365],"class_list":{"0":"post-159082","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-austin","8":"tag-austin","9":"tag-austin-economic-development","10":"tag-austin-headlines","11":"tag-austin-news","12":"tag-cedar-park","13":"tag-far-northwest-austin","14":"tag-life-science-jobs-austin","15":"tag-life-science-jobs-cedar-park","16":"tag-tech-jobs-near-cedar-park"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/159082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=159082"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/159082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/159083"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=159082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=159082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=159082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}