Category: Business

FutureMatrix Lease Approved by AEDC, Council

UPDATE, 10:15 a.m., July 20: Rewrite throughout adding quotes. Also adding audio of David Nichols speaking to AEDC board, City Council.

By Michael V. Hannigan

The Athens Economic Development Corporation (AEDC) board and the Athens City Council met jointly Friday, July 17, to approve a lease for FutureMatrix Interventional to expand into the former Biotech Manufacturing Center building.

The area to be occupied by FutureMatrix is about 23,000 square feet.

“We’ve been incredibly blessed,” FutureMatrix Executive Director David Nichols told the joint meeting. “We’ve got an opportunity to take our company to the next level. I applaud the work that (AEDC Executive Director) Lisa (Denton) and her team has done to really give us an opportunity to do that.”

“It is a great opportunity for us to step into a facility that is ready made for what we do,” he said.

Listen to David Nichols speaking to the AEDC, City Council

AEDC Board President Jess Laird said, “You have been a great corporate citizen; Jim Passmore has been wonderful for the community. I can’t tell you how appreciative I am at how fast your company put this together. … This is a great opportunity for us, for the City of Athens and for the county.”

Under the 10-year lease, FutureMatrix will pay $6,500 a month in rent plus a $6,500 deposit to the AEDC, promises to complete $600,000 in capital improvements and add to their local employee base which already numbers more than 300.

The AEDC will add $50,000 in incentives over three years, which breaks down to $20,000 for the capital improvements and $30,000 when 15 more jobs are created.

FutureMatrix was founded in Athens in 1993 and has “expertise in research, design and manufacturing of life saving and life-improving disposable medical devices….”

The space at the AEDC-owned building became available following the failure and liquidation of the Biotech Manufacturing Center (BMC). The BMC was a non-profit organization created to be an incubator for medical device companies.

According to AEDC Executive Director Lisa Denton, FutureMatrix is buying the equipment in the building from the BMC.

Annual Red Hot ‘18’ Golf Tournament to Tee Off

golfballPress release

Among all the “hot” activities during the summer at Cedar Creek Lake, you can always count on a repeat of the annual Red Hot ‘18’ Golf Tournament, hosted by the Cedar Creek Lake Area Chamber of Commerce. Traditionally held the last Monday of July, this year’s fundraising tournament will be on July 27 at Pinnacle Golf & Boat Club.

The tournament is a four person scramble, with gross/net prizes. Check-in is 7:45 a.m., with a shot-gun start at 8:30 a.m. Price is $70 per player (early bird registration) and $75 per player the day of. The price includes a light breakfast, golf, cart and lunch. Up to two mulligans per player will be available for $5 each. Continue reading “Annual Red Hot ‘18’ Golf Tournament to Tee Off”

Leases Moving Forward in BMC Failure Aftermath

BMC beatBy Michael V. Hannigan

Athens City Administrator Philip Rodriguez on Monday gave City Council members a short update regarding progress in the Biotech Manufacturing Center (BMC) closure.

Last week, the Athens Economic Development Corporation and the City Council both approved a plan to keep the BMC out of bankruptcy court to try and limit the damage caused by the BMC’s failure. 

Monday, Rodriguez told the council that officials were getting closer to a lease with West Pharmaceuticals, the business currently in the former BMC building, which Rodriguez said, “we all have attested is is a good business partner for our community.” Continue reading “Leases Moving Forward in BMC Failure Aftermath”

AEDC, City Council React to Biotech Manufacturing Center Closure

BMC Board President Judy Loden (foreground) listens to the Athens Economic Development Board on Wednesday.
BMC Board President Judy Loden (foreground) listens to the Athens Economic Development Board on Wednesday.

By Michael V. Hannigan

The Biotech Manufacturing Center (BMC) in Athens is done. After 10 years, it has ceased operations.

The once-proud experiment in manufacturing, training and business incubation was visited by Gov. Rick Perry in its heyday, but on Wednesday officials uttered statements like “worse than horrible” to describe the mess left in the wake of the BMC’s failure.

As it closes, the BMC has $200,000 to $300,000 in obligations plus another $1 million in money owed to the Athens Economic Development Corporation (AEDC). In addition, the company West Pharmaceuticals is left as an uncertain tenant in the building once occupied by the BMC. Continue reading “AEDC, City Council React to Biotech Manufacturing Center Closure”