September 6, 2007 — The Texas Enterprise Fund (TEF) has granted Authentix Inc. $1 million as part of state and local efforts to secure expansion and relocation of the company’s research and development facility from Douglassville, Penn., to Addison, Texas. This investment is projected to generate $6.5 million in capital investment and will create approximately 120 jobs in Texas during the next five years.
Headquartered in Addison, Authentix uses nanoscale engineering to authenticate, track and trace pharmaceuticals, fuel, banknotes, tobacco, spirits, personal care products and agrochemicals.
“The governor’s Texas Enterprise Fund grant was one of the primary reasons we decided to move our existing manufacturing operations in Pennsylvania to Texas,” said David Moxam, Authentix president and CEO. “The TEF helps Authentix offset relocation costs, and we’re grateful for the State of Texas investment in Authentix as well as the assistance we’ve received from the Town of Addison. Texas is an ideal environment for fast growth-oriented businesses. The access to talent and intellectual capital when matched with quality of life for employees is unsurpassed.” In addition to the $1 million TEF award, the Town of Addison also assisted in Authentix’s relocation.