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Business Observer Tuesday, Jun. 1, 2010 8 years ago

Crist OKs Jackson Labs funds

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The state will use $130 million to attract the company to Florida.

It's not exactly theirs yet, but in approving the state's budget last week, Gov. Charlie Crist essentially offered Jackson Laboratory $130 million to do business in Florida.

Crist's approval sends $50 million in taxpayer dollars to Florida's Innovation Incentive Fund this year, with plans to add another $80 million to the fund over the next two years.

Jackson Laboratory will now begin working with the Economic Development Council of Collier County to complete applications for receiving that money.

At the same time, Collier County officials will continue vetting the idea of investing with Jackson Labs, as a local funding match is required to be eligible for state funding.

Even with a few small steps between the latest approval and the deal's completion, EDC Chairman William O'Neill is confident in Jackson's ability to impact Collier's economy.

“The institute is precisely the catalyst the EDC has been seeking to attract to Collier County. It quite literally will be the foundation for creating long-term economic sustainability for our community,” O'Neill said in a release.

Jackson Laboratory, a nonprofit biomedical research group, initially plans to hire 400 people in a new facility to be located off Oil Well Road in eastern Collier County, as the Business Review reported in late April.

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