A new study will examine how Temple can expand its footprint in the bioscience industry.
Community leaders and local officials gathered at Temple College on Tuesday to hear about the Temple Health and Bioscience District’s new study. The study, to be conducted by Newmark Knight Frank Consultants, will look at what can be done to attract more bioscience business relocations and how to maintain current businesses.
District officials said the study, which will take about six to eight weeks to complete, was delayed until this month due to the coronavirus.
“There is going to be (about) short-term, medium-term and long-term goals,” Temple Economic Development Corp. President Adrian Cannady said. “There is going to be what we could do now… and the end is going to be what we could do going forward. It might take some time to get there because you might need a bigger school district or get more people.”
Consultants will examine how Temple compares to other cities when competing to bring in bioscience companies that might relocate.
Bob Hess, vice chairman of consulting for Newmark Knight Frank Consultants, said the firm will help Temple compete for businesses. A key benefit, he said, is Temple’s proximity to Austin, which has numerous tech firms and startups.
“You can’t divorce yourself from Austin,” Hess said. “Hook on for the ride and go for it, but you also got your own identity.”
Hess mentioned that Temple’s business costs are cheaper than in Austin.
The consultants said they were in the process of talking to community representatives and local businesses to find out what Temple needs to do to attract more businesses.
Once the report is complete, the company will give the district a list of possible improvements, each with levels of importance and the ease at which they can be accomplished. These improvements will also be assigned to city organizations that can best implement these changes.
Bioscience District President Thomas Baird said it is important to know what direction a city needs to move in.
Baird said a city needs to know what goals are achievable for the community and how they can be accomplished.
“We just want to make sure our goals and expectations for life sciences are real, achievable and will really benefit the community,” Baird said.