LEDA announced today that Monsanto, an agricultural biotechnology corporation, is planning to build a $15 million R&D facility at Lubbock Business Park. According to Marc Farmer, LEDA’s director of business recruitment, Monsanto’s new facility will bring 20 jobs to the economy. He anticipates payroll for the 20 jobs to be about $1.6 million for the first year.
This comes as a bit of surprise to those following Monsanto recently. Earlier this month, they announced an 8% reduction in staff, about 1,800 jobs, to cut costs. While this news is great for Lubbock’s economy, it is sure to be not without controversy.
From creating potentially dangerous genetically engineered seeds, having former employees working for the FDA, and receiving federal subsidies while stifling competition, Monsanto may face some opposition when it arrives.
I suggest you watch Food, Inc. to get a better understanding of it’s operations.
Source: The Lubbock Avalanche Journal