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Business Observer Thursday, Nov. 18, 2010 8 years ago

Lee County considers incentives

The county may provide $5 million to incentivize a biotech firm's relocation.

Lee County commissioners are weighing subsidies totaling $5 million for an undisclosed biotech company that is considering locating in the Fort Myers area.

The company is seeking taxpayer subsidies to cover the costs of building a 155,000-square-foot facility that will house 214 employees in the next five years, according to documents filed with Lee County.

The firm plans $40 million in capital expenditures and will pay an average wage of $66,397, plus benefits of $6,634 per employee. Subsidies for the project would come from the county's $25 million incentive program.

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