Business Facilities - May 2008 - (Page 19)

The Sunshine State, famous for its beaches and orange groves, has become a center of development for several emerging industries, and a biotechnology leader. By Fred Felton F lorida may be known for its world-famous beaches, but the state is rapidly positioning itself as the “innovation hub” for several high-technology industries, including biotechnology, photonics, modeling/simulation, aviation/aerospace, and alternative energy. It also has become the focal point for homeland security research. An innovative environment and a growing technology infrastructure are spurring development in each of these high-tech sectors. Nearly 200 biotechnology and pharmaceutical companies currently are located in Florida. Areas of excellence in this sector include biological devices, diagnostics, and therapeutics. Six world-class research organizations are located in the state, including The Scripps Research Institute. Earlier this year, Governor Charlie Crist announced the expansion of the Oregon Health and Science University’s Vaccine and Gene Therapy Institute (VGTI) to Port St. Lucie, FL. VGTI has assembled a team of experts to allow the rapid movement of discoveries from the laboratory to the clinic for use as medical treatments. “The arrival of VGTI further develops Florida as a biotech hub and establishes the Sunshine State as a global leader in medical research and development,” Gov. Crist says. “Florida’s economy will benefit from the collaboration among Florida’s biotech companies, which will also lead to better medical treatments and a better quality of life for all of us.” The state is providing $60 million in incentive funding from the Florida Innovation Fund to develop the institute. In addition, the city of Port St. Lucie has committed to providing $53 million in infrastructure expenditures. Florida’s economic investment in VGTI in Port St. Lucie will strengthen the unification of disciplines in immunology, cell biology, and virology in developing vaccines, and therapeutics for infectious diseases. VGTI and its anticipated institute-dependent startup companies will support approximately 1,466 positions directly and indirectly over a 20-year period and will generate $2 billion in payroll and $4.2 billion in gross state product during the same time frame. The University of Florida in Gainesville recently reached an agreement with an internationally recognized developer to create up to 160,000 square feet of life sciences- and technology-related laboratory and office space 19 PHOTO CREDITS: ENTERPRISE FLORIDA A S P E C I A L A D V E RT I S I N G S E C T I O N O F B U S I N E S S FA C I L I T I E S

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Business Facilities - May 2008 Contents First Word Snapshots The UK's Most Lucrative Locations, Pound for Pound Economic Development in a Flash Corporate Moves: Massachusetts Florida: A Ripe Climate for Innovation Innovating Big in Rhode IIsland Retail Set to Ride Out a Recession Corporate Moves: New Jersey South Carolina: A Sweet Spot in the Southeast Endless Opportunities in North Carolina Economic Awakening in the Mohawk Valley Metro Spotlight: Alexandria, LA Where Call Centers Call Home Texas Receives First Business Facilities State of the Year Award Advertiser Index Inside Livexchange

Business Facilities - May 2008

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