Technology & Biotech 2009

Scripps will complete the move into its new campus (above) in Jupiter this year. [Photo: Christopher Fay]

Biotech Payoff

Feeding off $650 million in state and local subsidies, Scripps Florida will complete its move into its new campus this year. Burnham Institute for Medical Research’s Lake Nona facility in Orlando is scheduled for completion this year. Torrey Pines Institute for Molecular Studies moved into its permanent Port St. Lucie digs in November. Palm Beach County sold the first bonds to raise the $194 million needed to land a Max Planck Society branch there beginning this year. And SRI broke ground on its St. Petersburg facility in October. “Life sciences have really grown quite phenomenally in Florida. They’re spawning spinoffs and startup companies. We think it’s going to continue to be a strong area for ’09. It’s been good. It’s going to continue being good,” says Sena Black, senior vice president of marketing and strategic intelligence at Enterprise Florida, the state’s economic development organization. The $500-million state fund that was used to entice Scripps Florida, Burnham and Torrey Pines here was zeroed out in the Legislature’s current budget. The Legislature did put up $30 million for a Florida Opportunity Fund to join with Florida-based venture capital firms investing in Florida businesses.

Torrey Pines Institute for Molecular Studies moved into its Port St. Lucie home two months ago. [Photo: Michael Price]