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BRADENTON — Lake Erie College of Osteopathic Medicine (LECOM) will spend $52 million to build a dental school in Lakewood Ranch, according to plans it presented to the Manatee Economic Development Council last week.
The EDC hopes to attract significant spending to the area's economy. LECOM's Robert Hirsch estimates that that spending could reach $14 million.
LECOM officials say the school will be open for classes in 2012, which is in line with the initial time estimate given when the project was first announced in November. The school's first class will have 100 students, and after four years the school should be able to educate 400 students.
The Manatee EDC has promised $203,300 in performance-based incentives to LECOM in connection with the school's new project, based on LECOM's commitment to pay 58 employees at least 115% of the county's prevailing average annual wage over four years.
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