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Florida.
Innovation Hub for the Life Sciences Industry.
Florida’s commitment and aggressive approach to Life Sciences has ensured growth of the industry. More than 34,000 Florida companies employ over 600,000 workers in Biotechnology, Medical Device Manufacturing, Pharmaceuticals, and the state’s broad based health care industry.
BIOTECHNOLOGY – 71 companies
Florida companies have been instrumental in the discovery and production of safer vaccines, new pharmaceuticals and faster, more reliable diagnostic tests. Florida is the 11th largest biotechnology state in the U.S. as reported by Ernst & Young
MEDICAL DEVICE – 408 companies
Florida ranks second in the U.S. for its number of FDA-registered Medical Device establishments. Florida companies benefit from a large talent pool, industry support services and suppliers, scientific infrastructure, a strong industry organization, as well as unparallel access to the Latin American markets.
PHARMACEUTICALS – 86 companies
In 2003, biopharmaceutical companies in Florida were responsible for over 21,000 jobs statewide, according to the Milken Institute, an independent, economic think tank based in California. Florida is projected to be one of the fastest growth states in this industry over the next decade.
MAJOR HOSPITALS / DIAGNOSTIC LABORATORIES / RESEARCH CENTERS – 1,372 companies
Florida is home to some of the nation’s best hospitals and medical research centers such as: H. Lee Moffitt Cancer Center and Research Insititute at USF in Tampa, Mayo Clinic in Jacksonville, M.D. Anderson Cancer Center in Orlando, and Shands HealthCare in Gainesville.
Key reasons for Florida’s success in Life Sciences are:
• Comprehensive R&D Infrastructure
• Workforce Trained in Life Science Programs
• Entrepreneurial Environment & Venture Capital Availability
• Biomedical Incentives Program
• Highly Desirable Quality of Life
RESEARCH AND DEVELOPMENT
Proving its dedication to building a world class research base, state and local leadership made a commitment to invest $510 million in Scripps Florida. Scripps’ 364,000 sf facility is focused on biomedical research, technology development, and drug design to produce major drug candidates in less time. Florida has also invested $30 million to establish life science-related Centers of Excellence at three Florida Universities. The state’s universities currently perform over $1 billion in sponsored research each year, collaborating closely with the Life Sciences industry.
WORKFORCE TALENT
Florida’s universities and colleges rank among the best producers of the nation’s top research & development performers. The state’s customized workforce training programs help companies recruit, train and maintain employees with cutting-edge skills to keep pace with new technologies. Additionally, Florida Community Colleges and local businesses have worked together to develop 2-year programs that produce graduates with degrees in biomedical equipment engineering and medical laboratory technology.
ENTREPRENEURIAL ENVIRONMENT & VENTURE CAPITAL
To assist in the commercialization of promising intellectual property, twelve Florida universities are equipped with wet lab space and business development services through technology transfer programs. Additionally, The Sid Martin Biotechnology Development Incubator (Gainesville) has garnered awards for its exceptional program designed to foster the development of bio entrepreneurship.
The state offers an excellent opportunity for experienced venture capitalist to take advantage of Florida’s deal flow. In Florida, venture capital spending totaled more than $55 million for 114 deals in 2003 and 2004. There are also more than 20 venture capital companies in Florida.
INCENTIVES
Florida has designated biomedical technology a “high impact” industry. Qualifying companies are eligible for special incentives that can significantly reduce a company’s tax liability.
QUALITY OF LIFE
With year round sunshine, mild winters, a multitude of white sand beaches, lakes and state parks, not to mention more than 1,000 golf courses, Florida’s quality of life is one of its biggest assets.
Committed to the Life Sciences industry, Florida drives its success through innovative state and local programs to ensure an environment of high achievement. Florida is a proven winner in the Life Sciences industry.
Visit eflorida.com/biosouth, and discover why innovative businesses like yours belong in an innovative state like Florida.
http://www.eflorida.com
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