Governor Ralph Northam today announced that BioInformatics Inc., a provider of critical market intelligence to major suppliers serving the life science, analytical instrument, and clinical diagnostic markets, will invest $175,000 to expand in Ballston Tower in Arlington County. The project will create 27 new jobs.
“With a 24-year history in the Commonwealth, BioInformatics is a great success story for Arlington County,” said Northam. “Virginia’s life sciences industry is leading the charge in cutting-edge technology and research, thanks to impressive companies like BioInformatics. This important sector is a significant contributor to the Commonwealth’s economy, and we are honored that BioInformatics has chosen to invest in its critical research operation and double its workforce in Northern Virginia.”
Founded in Arlington County in 1994, BioInformatics Inc.’s expertise includes assessing the size and attractiveness of markets, optimizing product configurations and pricing, validating corporate acquisitions, measuring customers’ brand loyalty, and evaluating brand strength and positioning. Its multi-disciplinary team is comprised of industry veterans, market research experts, consultants, and survey statisticians. BioInformatics leverages the world’s largest panel of scientific and clinical customers – including The Science Advisory Board® – for both quantitative survey research and in-depth thought leader interviews.
“Dynamic R&D universities and institutes and a highly educated workforce are driving the Commonwealth’s life sciences sector. Essential research companies such as BioInformatics foster new discoveries every day,” said Secretary of Commerce and Trade Esther Lee. “The success of businesses of all sizes is critical to economic vitality, and we are proud to have BioInformatics on Virginia’s corporate roster.”
“Over the next five to 10 years, we see a world where instruments and diagnostics – including analytical, imaging, and clinical – will converge to lead a precision medicine revolution,” said Craig Overpeck, CEO of BioInformatics Inc. “We are putting a stake at the intersection of science, medicine, and technology to help guide companies with transformative information and media products and services for converging markets that will make a difference in the lives of billions of people for the next century.”
The Virginia Economic Development Partnership (VEDP) will support BioInformatics’ new job creation through its Virginia Jobs Investment Program (VJIP). VJIP provides consultative services and funding to companies creating new jobs or experiencing technological change to support employee training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens.