Another Biotech Company Acquires Location in Vaca Valley Business Park
At the August 8th Vacaville City Council meeting, City Manager Aaron Busch announced LG Chem, a subsidiary of LG Corp, has acquired fifteen acres in the expanding life science campus in the Vaca Valley Business Park. The city manager shared a map showing several parcels where prospective biotechnology firms plan to build.
Although no details were provided about the acquisition or what the site may become, Busch stated the following to city council:
“They have decided to acquire 15 acres here in Vacaville because they are very excited about what we are doing here in town. They have not yet shared or finalized their plans with just exactly what the final product will be, but we have definitely reached out to them.”
Busch added that city staff has made the “biotechnology fast-track processing” available to LG Chem, which they did with Trans Western. Busch added:
“Transwestern’s very large and important project was approved by the City within 90 days and that’s unheard of and so we’ll be giving that same level of service to LG Chem and help them get through the entitlement process just as quickly so that they can begin bringing what they are bringing to our community as well.”
Transwestern refers to a 375,000-square-foot biomanufacturing campus which was approved for construction at the interchange of I-80 and I-505 in late 2022. The facility will be named “Axiom Point” and will be built in two phases.
Busch’s announcement was informational and no council actions were requested or taken on the topic.
Ups and Downs for Vacaville’s Biotech Industry
This all comes after the city’s largest biotech facility, Roche (Genentech) announced their planned exit from Vacaville.
Busch addressed the “hit” that Roche’s planned exit may deliver to the community, but he provided reassuring words that Vacaville is still on the radar of some major players in the biotechnology industry, stating:
“We got re-affirmed commitments from those industries that you saw on that map that are still very excited and anxious to move forward with their investments in Vacaville. Transwestern is finalizing some inquiries from specific firms and companies. So more than likely you’ll begin to see some actual construction here hopefully before the end of the year, if not at the very beginning of next year.”
Since the launch of the City of Vacaville’s Biotechnology and Advanced Manufacturing Initiatives, Agenus Bio, Transwestern and Polaris Pharmaceuticals have all acquired properties to build new facilities in what’s being called “the life sciences corridor.”
About LG Chemical
According to the company’s website, LG Chem (LG Chemical) was originally founded in 1947 as “Lucky Chemical” and manufactured cosmetic products. It changed its name in 1995 and is headquartered in Seoul, South Korea. Its parent company, LG Corp, operates businesses in a wide variety of industries including electronics and communications.
