Business Facilities - December 2007 - (Page 42)

BUSINESS REPORT Florida By Jenny Vickers Biomedical Momentum in Florida’s High Tech Corridor From research in cancer and infectious diseases to diabetes and Alzheimer’s, Florida’s High Tech Corridor is helping to create a vibrant life sciences cluster in Central Florida. T he Florida High Tech Corridor, a 23-county region in the heart of Central Florida, is one of the nation’s emerging hightech clusters. It is home to 7,600 companies, employing 135,000 people (about 70% of Florida’s high-tech employment), with total earnings in excess of $8 billion in 2006. The corridor is overseen by the Florida High Tech Corridor Council (FHTCC), which was established by the Florida Legislature in 1996 to help grow the high-tech industry in the region. The FHTCC partners with three research universities in the area—the University of Central Florida (UCF), the University of South Florida (USF), and the University of Florida (UF)—to help achieve that goal. FLORIDA FAST FACTS Population (2006): 18,089,888 Largest Cities (2006): Jacksonville, 794,555; Miami, 404,048; Tampa, 332,888; St. Petersburg, 248,098; Hialeah, 217,141 Targeted Industries: Life sciences, information technology, aviation/ aerospace, homeland security/ defense, financial/professional services, manufacturing Key Incentives: Qualified Target Industry Tax Refund, Quick Response Training Incentives, High Impact Performance Incentive, Capital Investment Tax Credit One of the fastest growing sectors in the corridor is life sciences. Currently, the corridor is home to more than 200 biotechnology and life sciences companies, supporting more than 9,100 employees. Some of the largest companies in that sector include Bausch & Lomb Pharmaceuticals and Florida Oncology Pharmacy both in Tampa/St. Petersburg, FL and Tyco Healthcare in DeLand, FL. Florida’s life sciences sector was recently given a boost when the nonprofit medical research institute, the Burnham Institute for Medical Research, chose Central Florida as the location of its new East Coast facility. Burnham broke ground at the 600acre Lake Nona’s Science & Technology Park in Orlando, FL in October. The institute, which will be fully func- tional in 2009, will employ 250 to 300 individuals dedicated to diabetes and obesity research and drug discovery capabilities. Burnham’s 175,000square-foot facility will be co-located with the recently announced $200 million UCF College of Medicine. According to Karin Eastham, executive vice president and COO of the Burnham Institute, several other states approached Burnham, but Florida had incentive programs in place that made it very attractive. “The combined state and local incentives brought the value of the package to $350 million over 10 years, with about half coming from the state and half from the Orlando region,” says Eastham. “In Orlando, the Lake Nona site offered the opportunity to co-locate with UCF’s new FLORIDA LIFE SCIENCES/MEDICAL TECHNOLOGIES COMPANIES (Breakdown by Primary Product) 8.1% Pharmaceutical Preparation Manufacturing 15.1% Ophthalmic Goods Manufacturing 12.0% Electromedical & Electrotherapeutic Apparatus Manufacturing 5.1% Laboratory Apparatus & Furniture Manufacturing 46.7% Surgical Appliance & Supplies Manufacturing SOURCE: FLORIDA HIGH TECH CORRIDOR COUNCIL 13.0% Surgical & Medical Instrument Manufacturing 42 DECEMBER 2007

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Business Facilities - December 2007 Contents First Word Snapshots Metro Spotlight: Albuquerque, New Mexico Corporate Moves: North Carolina 2007 Ecomonic Development Deal of the Year Awards State of the Year Seeking Supply Chain Solutions Mississippi Means Business Corporate Moves: South Carolina Biomedical Momentum in Florida's High Tech Corridor Trends in Offshoring Metro Spotlight: Stillwater, OK Metro Spotlight: Atlanta, GA Advertiser Information 2007 Salary Survey

Business Facilities - December 2007

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