MONTPELIER, Vt. (AP) — Following several delays, developers expect to break ground in May on a new biotechnology plant in Newport largely funded by foreign investors that is slated to create at least 400 jobs.
AnC Bio Vermont is part of an economic development initiative in northern Vermont led by Jay Peak Resort President Bill Stenger and a partner.
Last week the Vermont Department of Financial Regulation gave developers approval to seek other investors. The state had asked them to stop marketing the project last summer until they could provide an updated marketing analysis and investor offering. They provided that new information last month.
The department still must approve the project’s financial plan.
AnC Bio Vermont will do research and manufacture heart-lung machines and portable dialysis machines and perform cell-culturing for heart therapy.