Carlsbad City Council has approved plans for a new life-sciences company incubator, being set up in a local building that formerly housed a Farmers Insurance auto claims center.

An organization known as Bio, Tech and Beyond will lease the building at 2351 Faraday Ave., according to a statement from the city. The group will manage a startup incubator and science education center.

The effort is being led by Joseph Jackson, founder of BioCurious, among the nation’s first community laboratories, and Kevin Lustig, founder and CEO of San Diego-based software products maker Assay Depot.

The city of Carlsbad owns the 6,000-square-foot building, and will lease it to the incubator operators for $1 a year for five years. Incubator managers will pay for all tenant improvements and furnish the lab with equipment and instruments valued at $250,000.

City officials said goals for the incubator include creating new life-sciences companies and jobs in Carlsbad, and strengthening the city’s life-sciences cluster.

— SDBJ Staff Report