Developer gets OK to start construction of bio-tech plant

Markets Associated Press

A plan to build a bio-technology plant in Newport that would employ up to 500 people has been cleared for construction.

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The Caledonian Record reports (http://bit.ly/1yzfD0m) the Vermont Department of Financial Regulation has given developer bill Stenger a green light to start construction of AnC Bio Vermont and seek new investors.

The building would be at the Jay Peak Biomedical Research Park in Newport.

Stenger and partner Ariel Quiros must have the department's approval of an updated business plan to use any new investments.

The project had experienced some delays, including state and federal reviews.

The facility will do research and manufacture heart-lung machines and portable dialysis machines and perform cell-culturing for heart therapy.

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Information from: The Caledonian-Record, http://www.caledonianrecord.com