Merck to build tech hub in Texas

Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., will develop a technology innovation center in Austin, Texas, following Gov. Greg Abbott's commitment to provide the company with a $6 million grant from the Texas Enterprise Fund, reports the Austin American-Statesman.

The hub will be the centerpiece of an Austin innovation district developing around the Dell Medical School. Merck said it will create at least 600 jobs and invest almost $29 million to build and equip the center. The company also expects suppliers and partners to spend roughly $70 million a year in Austin.

Merck has not finalized a location, but previously said it expects to build the center at the medical school or in the adjoining innovation zone, according to the Austin American-Statesman.

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