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February 19, 2006
Bush: Biotech key to economy
WEST PALM BEACH - Cutting taxes, rewarding businesses with incentives and luring the biotechnology industry to Florida are key to diversifying the state's economy, Gov. Jeb Bush told researchers, venture capitalists and biotech executives Tuesday.
Bush said he wants to entice research institutions with lower taxes, a move he said would create more prosperity than any government program.
''The bioscience industry is key to solidifying Florida's future as a global hub for innovation and groundbreaking research and development,'' Bush said. ``We must continue to foster an environment that attracts the field's best and brightest.''
Promoting the biotechnology industry has been a central theme in the governor's seven years in office. He persuaded the Legislature in 2003 to spend $310 million on an incentive package aimed at luring The Scripps Research Institute to Florida.
Bush told the conference hosted by BioFlorida, an independent bioscience organization, that it was the right time to diversify the economy.
Last week, Palm Beach County commissioners approved a new site for the Scripps center in the northern part of the county after lawsuits by environmentalists threatened to derail the project at its original location on the edge of the Everglades.
Bush has said he envisions 8 million square feet of industrial space at the site to allow for related development. In his view, a biotech hub would lure top scientists, high-paying jobs and cutting-edge research aimed at curing cancer, Lou Gehrig's disease, Alzheimer's disease and AIDS.
The state and county have committed nearly $600 million to the Scripps project. The San Diego, Calif.-area institute is one of the country's largest, private, nonprofit research organizations. Also last week, IBM announced a collaboration with Scripps aimed at melding science with technology to fight potential pandemic viruses.
Source: Brian Skoloff. AP/Miami Herald (22 February 06) [FullText]
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