Governor Crist Highlights Florida’s Biotechnology Success, Economic Impact
~ Visits Sarasota’s Roskamp Institute, learns about efforts to treat Alzheimer’s disease ~
SARASOTA – Governor Charlie Crist today visited the Roskamp Institute in Sarasota, one of more than 170 biotechnology research and development companies in Florida. Governor Crist was briefed on the institute’s research in diagnosing and treating cancer and neurological disorders such as Alzheimer’s disease. Since 2003, the Roskamp Institute has been a leader in the global effort to better understand and ultimately cure neurological disorders and addictions.
“The research being conducted among Florida’s biotechnology companies is making a difference in the health and quality of life of people around the world,” Governor Crist said. “Companies like Roskamp are also important to the health and well-being of Florida’s economic future.”
As an example of the economic growth spurred by biotechnology, Governor Crist highlighted the connection between the Roskamp Institute and Archer Pharmaceuticals Inc. Archer was founded in 2008 based on the groundbreaking research conducted at the Roskamp Institute and specializes in developing drugs used to treat Alzheimer’s disease.
Florida’s Biotechnology Business Sector
Florida has become one of the fastest growing states in the life sciences industry and is among the top 10 United States biotech centers, according to Ernst & Young. For the second consecutive year, Fierce Biotech ranked Florida as one of the top five regions for biotech companies in 2008. Since 2001, the number of biotech companies has more than doubled in Florida and the state is home to almost 11 percent of the 1,450 biotech firms in the United States. Florida’s biotechnology research and development companies excel in the areas of biotechnology devices, diagnostics and therapeutics.
The life sciences industry employs more than 26,000 Floridians, from basic research and development to clinical trials and business development. Additionally, Florida is home to more than 100 pharmaceutical companies and more than 4,000 researchers, technicians and workers. In 2008, the annual average wage for the biotechnology industry was $63,768, exceeding the state’s total annual average wage of $40,569 by 57 percent. In 2008, the annual average wage for medical device manufacturing was $55,557.
Innovation Incentive Fund
Florida’s Innovation Incentive Fund has played a critical role in attracting leading research institutes and companies that have expanded innovation-based economic activity, both in their own right and through spin-off generation. Since 2006, Florida has used the fund to compete effectively for high-value research and development projects, major innovation business projects and alternative energy projects, creating significant jobs and capital investment.
By June 2010, the Governor’s Office of Tourism, Trade and Economic Development had awarded funds to seven companies through the program: Sanford-Burnham Medical Research Institute, Torrey Pines Institute for Molecular Studies, SRI St. Petersburg, University of Miami Hussman Institute for Human Genomics, Max Planck Florida Institute, VGTI-Florida and Draper Laboratories. With Scripps Florida – established in-state with the help of a federal grant – among these biotech leaders, collectively, they have created 717 jobs to date, with annual wages far above the state average.
In June 2010, the Max Planck Society, based in Munich, Germany, broke ground on the Max Planck Florida Institute, its first North American expansion. Based in Jupiter, this bio-imaging facility will temporarily be located on the Florida Atlantic University campus until construction is complete in 2012. Max Planck Florida will support 1,824 positions (directly and indirectly) over a 20 year period and generate $2.4 billion in labor compensation. The institute is the recipient of state and local incentive funds.
In January 2008, Oregon Health & Science University’s Vaccine and Gene Therapy Institute announced the creation of VGTI Florida. This institute joins Torrey Pines Institute at the Tradition development in Port St. Lucie. It will support 1,466 positions (directly and indirectly) over a 20 year period and generate $4.2 billion in gross state product in its first 20 years in operation. VGTI Florida is the recipient of state and local incentive funds.
The University of Miami announced the relocation of an institute from North Carolina to create the Miami Institute of Human Genomics in February 2008. In December 2009, it received a donation to rename the institute the Hussman Institute of Human Genomic. The institute will support 1,274 positions (directly and indirectly) over a 20 period and generate $3.2 billion in gross state product in its first 20 years of operation. The institute received state and private-matching incentive funds to relocate to the University of Miami.
The Charles Stark Draper Laboratory, Inc., based in Cambridge, Massachusetts, announced an expansion in July 2008. The laboratory established a BioMEMS research and development facility in Tampa at the University of South Florida and a Multi Chip Module Center in St. Petersburg. Together, it is expected to create165 direct new jobs.
In November 2008, Biopsy Sciences announced it will move its operations from Tucson, Arizona, to Pinellas County. The growing biomedical research and device company includes new, high-wage jobs paying more than 200 percent of the county’s average annual wage.
Also in November 2008, FPA Clinical Research announced an expansion of its corporate headquarters in downtown Kissimmee. The expansion includes $1.1 million capital investment and the creation of 25 jobs paying 200 percent of Osceola County’s average wage.
Biotest Pharmaceuticals announced in January 2009 that it will expand its Boca Raton-based plasma protein production plant. The state’s Qualified Target Industry Tax Refund Program and a local county grant will allow the company to renovate its current building to accommodate increased manufacturing with an economic impact of $89 million and the creation of 50 jobs.
In February 2009, Scripps Florida opened its 370,000 square foot state-of-the-art research campus in Jupiter. Scripps Florida was the impetus for much of the state’s growth in the biotech industry and is expected to create 6,500 new jobs (direct and indirect) in the next 15 years and generate about $1.6 billion in additional income for Floridians.
The Nemours Children’s Hospital at Lake Nona in Orlando broke ground in February 2009. It will anchor a $400 million pediatric medical campus that will improve children’s health care and bring thousands of new jobs to central Florida. The hospital is an important element in Florida’s goal of becoming an international leader in biomedical research and health care.
