ADMINISTRATIVE REPORT
MEETING DATE: May 28, 2025 AGENDA CATEGORY: Public Hearings TO: Honorable Mayor and City Council
FROM: Jennifer M. Byers, Economic and Community Development Director DATE: May 6, 2025
SUBJECT: Public Hearing to consider economic subsidy agreement with BIOS Health Ltd (not to exceed $250,000) to provide an economic subsidy for the implementation of a Precision Medicine Initiative in Bakersfield
RECOMMENDATION:
Staff recommends approval of the agreement.
BACKGROUND:
Per the City’s Economic Development Strategic Plan, adopted by City Council on September 14, 2021, the Economic and Community Development (ECD) Department desires to position Bakersfield as a destination for innovation and promote the retention, transition, and expansion of the region’s traditional mainstay industries.
On January 24, 2024, the City entered into Agreement No. 2024-034 with BIOS Health Ltd to facilitate the expansion of its business operations from the United Kingdom and Canada to Bakersfield, California. BIOS is a specialist in the field of neuroscience, machine learning, artificial intelligence, engineering, and medicine. The original economic subsidy of $250,000 enabled BIOS to expand their operations to Bakersfield, advance strategic partnerships, secure additional investments, and develop a proposal for a projected Precision Medicine Initiative (PMI) in Kern County.
As outlined in the Public Safety and Vital Services (PSVS) Measure N priorities, the City desires to prioritize job creation through economic development and business retention, attraction and development. BIOS has proposed to collaborate with California State University, Bakersfield (CSUB) and Dignity Health to support the development of the PMI and contribute to broader wor kforce development efforts in the region.
Per CA Government Code Section 53083, the City Council of the City of Bakersfield must hold a noticed public hearing and, prior to the public hearing, provide information on the economic development subsidy in written form available to the public through the City’s website. Notice was posted on May 16, 2025.
FISCAL IMPACT:
$250,000 in PSVS funds
COUNCIL GOAL:
Economic Opportunity for All
ATTACHMENTS:
1. Agreement
2. Economic Subsidy Report