SHARE:
Supporting Growth
Collaborative incentive packages can help put expanding companies on fast track to success.
|
Pharmaceutical giant Merck & Co. and the University of South Florida’s H. Lee Moffitt Cancer Center & Research Institute were considering a partnership for the purpose of developing and delivering individualized cancer therapies. Merck had expressed interest in providing $95 million in cash and other support for the joint venture, dubbed M2Gen. A collaborative incentive package helped seal the deal.
From the city of Tampa came $800,000 and land worth $1.2 million; from Hillsborough County came an additional $20 million plus land worth $8 million; and from the state, came another $15 million in incentives. Total package value: $45 million. Value to the cancer patients and their families who stand to benefit from the research coming out of M2Gen: Priceless.
Not every incentive package available in Florida is as large as the M2Gen deal, of course. But all can help put expanding and relocating businesses of every shape and size on a fast track to success.
Incentives Do Matter
While incentives may not be the first factor to grab a CEO’s attention in making site selections, when the decision comes down to two or three potential sites, incentives and business-friendly fiscal policies frequently tip the scale. That’s where Florida — with its tax advantages and incentive packages tailored to the specific needs of the business in question — really shines.
Florida’s Business-Friendly Tax Advantages Florida consistently earns high marks for its responsible fiscal policies and pro-business tax code. The reasons are clear: |
