By HEATHER GANN, Alabama Daily News
Birmingham, Ala. – The University of Alabama Board of Trustees approved this week the sale of the engineering division of Southern Research, a non-profit scientific research organization focused on green energy and medical advancements.
The engineers in this division will be employed under Kratos SRE, a new company emerging from international tech corporation Kratos as part of a move to transform Birmingham into a national hub for tech innovation and development. Kratos’ investment into the area is projected to create 150 jobs over the next 10 years.
According to a press release, the sale will generate $80 million for Southern Research to support 350 additional permanent jobs with the new biotech center, dramatically increasing the organization’s economic impact as well as its potential for breakthrough scientific discoveries.
Southern Research will use its new funding to invest in cutting-edge equipment, hire qualified employees for a new research facility and continue their work to make Alabama a national center for excellence in research related to infectious and chronic diseases.
“With support of our state and local leaders, we are laying the groundwork for this expansion by building a new biotech facility that will greatly increase our lab space,” said Josh Carpenter. president and CEO of Southern Research. “This transaction enables us to hire the talent and secure the equipment to fill that new space, making us a national center of excellence in biomedical research and development.”