Loading
FORT MYERS — The Fort Myers Regional Partnership approved $5 million in financial incentives to attract VR Laboratories LLC to Lee County. VR plans to create 208 new jobs over the next five years, paying an average annual wage of $66,850.
VR Laboratories is a new venture — not a relocating business — that will formulate and produce FDA-approved botanical pharmaceuticals, according to a release issued by the Partnership.
The money for the incentives comes from Lee County's Financial Incentives for Recruiting Strategic Targets (FIRST) reserves, which has $25 million set aside to attract new businesses to the area.
VR Labs had sought to tap into a $42 million-pool of bonds made available through the American Recovery Investment Act at the end of last year, but in the end was unable to access the funding.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
