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Southeast Business Briefs - Jan. 2007 -
BOCA RATON — Co-founder and former chairman, president and CEO of railroad operator RailAmerica, Gary Marino has launched a new company: Patriot Rail Corp. Patriot’s first acquisition is the 118-mile Tennessee Southern Railroad. Meanwhile, RailAmerica has agreed to a $1.1-billion buyout from an affiliate of New York City-based Fortress Investment Group.
» Delray Beach-based Office Depot (NYSE-ODP) broke ground on its new global headquarters. The company could get up to $16.7 million in incentives for the 28-acre campus at the Arvida Park of Commerce.
FORT LAUDERDALE — Prosecutors have charged former Muvico Entertainment IT director Joseph Harlen Snook with intentionally causing damage to the company’s computer system. Snook allegedly injected a virus that cost the company about $100,000 in lost ticket sales.
JUPITER — Abengoa Bioenergy has invested $10 million in Dyadic International. Dyadic will use the money to further develop its technology for converting renewable biomass (urban, agricultural and forestry waste) into fermentable sugars that can be used to produce biofuels, plastics and polymers.
STUART — Woodlands, Texas-based Florida Natural Gas Storage wants to build a $225-million natural gas storage plant, the state’s first, at a vacant Superfund site in Indiantown by 2011.
WEST PALM BEACH — BioCatalyst International is moving its headquarters from Virginia. The company, which provides seed capital and management expertise to biotech firms, will employ 10.
» The West Palm Beach Downtown Development Authority plans to cut its tax rate for downtown property owners by 50%.
