The City of Bothell was a recipient of $500,000 to fund a project for the Bothell Med Tech Manufacturing Innovation Partnership Zone (IPZ) — its second $500,000 grant for this purpose. The state construction budget, signed into law by the governor last week, funds local workforce development and infrastructure projects, while also creating an estimated 18,000 jobs statewide.
The support from the state helps to fund the IPZ’s goals for creating an incubator and expanding it to a center of excellence for the med tech industry in Bothell over the next few years. The first round of funding is being used to establish an incubator for startup med tech firms in partnership with the University of Washington C4C, UW Bothell and with Lake Washington Technical Institute programs.
The second round allows the city and IPZ to move forward with its plans for a larger facility catering to the med tech industry through office, conference and hospitality services located in Canyon Park.
The facility will provide opportunities for training workforce while giving opportunities to students for real world industry experience. The pre-design objectives are to determine programming, develop a business and financing plan and secure key partnerships and a site for the facility.
“This is an exciting opportunity for Bothell and the Innovation Partnership Zone to ensure the continued growth and success of the med tech industry,” said Terrie Battuello, Bothell assistant city manager and manager of economic development.
Innovation Partnership Zones are locally-grown clusters of expertise in cutting-edge industries that encourage innovation and job creation by linking private-sector companies with research institutions, local training programs and other organizations.
Bothell’s biomedical manufacturing zone was designated in 2007, and renewed last year. The IPZ has established a non-profit board of directors including public and private leaders from the community. Bothell is home to over 25,000 tech and life sciences jobs.