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In its business plan for Sarasota County, The Jackson Laboratory outlines its plans to build a 120,000-square-foot facility on 30 to 50 acres of land. What it doesn't say is how it arrived at its estimates for local and state benefits from the project.
In the 21-page plan, Bar Harbor, Maine-based Jackson Laboratory says the project will require $100 million in state funding over a three-year period with an additional $100 million from Sarasota County. County voters will have to approve a referendum for their portion. According to the plan, Jackson says it will raise the remaining of the $734 million needed for the project through grants and its own fundraising efforts.
The plan estimates the lab will employ 432 high-wage professionals in its first 20 years, which it breaks down into categories of administrative and scientific positions.
The plan also estimates that through spinoffs, the lab will create an additional 1,800 to 3,000 indirect jobs with an indirect economic impact of at least $5.2 billion over 20 years, with $129 million being generated in state revenue over the same time period.
The Jackson Laboratory plan does not disclose how it arrived at these figures, or what the estimated payout in state or local tax revenue will be for any of those years during the 20-year period. To see the full report, click on the link below.
The non-profit company recently released its business plan for Sarasota County in its attempt to secure a commitment for the taxpayer money it needs to help fund its new facility.
Click here to download the report.
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