City of Hoover working to make Riverchase corporate park a healthcare district

HOOVER, Ala. (WBRC) - The city of Hoover takes two major steps towards their goal to create a health tech district at Riverchase corporate park.

For you, this means more jobs in the area and more money coming into the city.

Hoover Mayor Frank Brocato told WBRC with the current businesses in Riverchase, they are confident the area will continue to grow.

In collaboration with Innovate Alabama, an initiative aimed at fostering innovation and entrepreneurship throughout the state, this partnership will help build on Hoover’s strategy to recruit STEM-based companies and workers.

The idea is to turn the Riverchase area into a live, work and play environment, just like the city is creating on Highway 280.

“It’s going to be a team effort, to study that area, have their resources come in and help us make some decisions about what types of businesses we need to recruit,” Brocato said.

With Innovate’s resources, expertise, and a $200,000 grant, city leaders hope to make Riverchase corporate park a success by conducting a feasibility and strategic planning study focused on creating a health tech district.

“We want to be able to let folks know who we are, and we think that once we get in front of them, it sells itself,” Brocato said.

Riverchase is already home to existing healthcare and biotech companies such as BioCryst Pharmaceuticals, who is expanding their company’s Discovery Center of Excellence in Hoover.

Because of positive product development and to prepare for additional growth, BioCryst is leasing an adjacent suite and will then occupy the entire building at Riverchase.

“They have over 100 PhD scientists on staff right now, and with this new expansion, they are creating, they will bring in 68 scientist type of jobs into the city,” Brocato said.

Upon project completion, the expanded Discovery Center of Excellence will occupy a total of 49,054 square feet.

This will create more opportunities for neighbors and bring in more money to the school system.

“With this expansion, that brings in an additional roughly $100,000 a year in property tax just to the school system, so that’s a significant investment in our community,” Brocato said.

The city will provide BioCryst with tax reductions totaling $1 million to help with the company’s expansion.

BioCryst’s expansion project will take about three years to complete. However, Innovate will start their feasibility study in early 2024.

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