Friday, January 11, 2008

Research Coast a 10-year project?

I saw the headline that read "10 Year Biotech Project" and thought "Now, That's a Project!..."

read on for the real story...

PORT ST. LUCIE — The Research Coast is a sprint against other biotech hubs to land more companies.

It will take longer to generate local jobs at Oregon Health & Science University's Vaccine and Gene Therapy Institute, which announced Tuesday it would create a center at Tradition.

"It took 60 years to create the Research Triangle (in North Carolina). We're going to make that happen in a little less than 10 years," said state Sen. Ken Pruitt, R-Port St. Lucie. "This is about our kids and, when you run a relay race, you run as fast as you can."

The Senate president foresees big returns from the institute's arrival and the opening of Torrey Pines Institute for Molecular Studies. California-based Mann Research Center intends to build a $100 million, 400,000-square- foot life sciences complex next to the two research firms in the Florida Center for Innovation at Tradition.

The numbers are lofty.

The state and city are putting up $117.9 million for the Oregon institute.

In return, economic development leaders say that the 200 jobs spawned during the next decade by the institute will grow into 1,466 positions directly and indirectly through spin-off companies in the next two decades.

Those workers will generate $2 billion in payroll and $4.2 billion in gross state products.

link to full article

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