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Florida spends big on biotech

Two new deals show the state is in a league of its own when it comes to subsidies

Andrew Holtz
Florida is pouring hundreds of millions of dollars into luring biotech institutions with public subsidies, easily outpacing its rivals. In the latest phase of its biotech buying spree, the state has announced that the Burnham Institute for Medical Research of La Jolla, California, will be expanding to a new Orlando campus with the help of $310 million worth of state and local incentives, while the Torrey Pines Institute for Molecular Studies, also based in La Jolla, will open a facility in Port St. Lucie in return for $80 million worth of state and local incentives.A leading proponent in the Florida legislature, Sen. Mike Fasano, R-New Port Richey, believes publicly financed incentives are a good use of the state's budget surplus and a necessary investment. "There is an enormous amount of competition with other states," he told The Scientist. "Florida will see a huge return on that amount...

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