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Palm Beach County is the heart of the basic biomedical research community in Florida.
Research institutes, biotech, pharmaceutical, and medical device companies are attracted to Palm Beach County for many reasons, including:
• Its pro-business environment;
• Its diverse and growing population;
• Its outstanding universities and community college;
• Its strategic location in the State of Florida, and in relation to Latin America;
• The potential access to capital;
• Its world class researchers.
Pro-business
By Constitution, the State of Florida enjoys no tax on personal income. In addition, the corporate tax rate is a low 5.5%.
The County and municipal governments in Palm Beach County wholeheartedly support the development of the life science industry, as shown by the investment of the Board of County Commissioners' investment in Scripps Florida. Furthermore, in late 2007 the Business Development Board facilitated a partnership between Palm Beach County, the State of Florida, the Town of Jupiter and Florida Atlantic University to recruit the Max Planck Society to Palm Beach County. The recruitment of Scripps Florida to Palm Beach County has created a solid anchor on the Florida Atlantic University Campus in Jupiter.
  
 
Scripps Florida is comprised of four cutting edge departments:
Cancer Biology, Infectology, Molecular Therapeutics and the Translational Research Institute
For more information and to register to do business with Scripps Florida go to: www.scripps.edu/services/procurement/external
Scripps Florida procurement office representatives: Francisco Carpio, Coordinator, Supplier Diversity 561.228.2068 and Linda Carlson, Administrative Assistant, Supplier Diversity 561.228.2065.
These groups dovetail ideally with the planned departments at the Max Planck Florida Institute:
Bio-imaging, Bio-sensing and Cellular Mechanisms
Details regarding the Max Planck Florida Institute can be read here.
These two world renowned institutes collaborate and partner with the strong community of innovative companies that span medical devices, pharmaceuticals, therapeutics and biotechnology in Palm Beach County . Some examples of the successful companies in our region include:
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Palm Beach County is also home to the state's largest pharmaceutical company - Biotest Pharmaceuticals -
headquartered in Boca Raton.
The development of a leading life science community in Palm Beach County is receiving international attention and acclaim. An article, published in "BioBusiness", illustrates the region 's strength and attraction. The article can be read here. In March 2008, Forbes.com ranked Palm Beach County #3 in its Top 10 Hotbeds of Tomorrow. Read the article and ranking here.
State of the Art Infrastructure
There is a strong focus on translating basic research into commercial application, and in order for that translation to happen, wet lab facilities where scientists can further develop their discoveries are needed. Enterprise Development Corporation of South Florida (EDC) offers mentoring for entrepreneurs and now has a small incubator facility in Palm Beach Gardens .
In addition, Alexandria Real Estate Equities, Inc. (NYSE: ARE) owns and manages
a 46,000 sq. ft. innovation center less than a quarter mile from Scripps Florida .
State-of-the-art wet labs are available for lease, with shared office and administrative
services - ideal for small biotech companies that want a foothold in this emerging hotbed!
Growing and Diverse Population
The population of Palm Beach County stands at approximately 1.3m people. Every day more people relocate here to take advantage of our outstanding business opportunities and unparalleled quality of life.
The South Florida region (stretching from Palm Beach County to Miami-Dade County) encompasses over 5m people, making it the 7th largest Metropolitan Statistical Area (MSA) in the United States.
Universities and colleges
Palm Beach County is home to five universities, including Florida Atlantic University (FAU) which was recently classified by the Carnegie Foundation for the Advancement of Teaching as a "Research University-High Research Activity" institution. In recent years, sponsored research at the university has doubled to approximately $70m annually. FAU is also home to Scripps Florida and will soon have a teaching hospital on it Boca Raton campus.
Palm Beach Community College is Florida's oldest community college and is intricately involved in the development of the life science industry in Palm Beach County. In early 2008 it will open its new 90,000 sq. ft. bioscience facility on the Palm Beach Gardens campus. This facility will train students in various fields associated with the life sciences. The biotech program at the college is closely aligned with industry, and runs internship programs in the community.
| Ribbon Cutting Ceremony of Palm Beach Community College's new Biotechnology Center in Palm Beach Gardens, FL |
Access to Capital
Palm Beach County is home to one of only four biotech investment banks, nationwide: Dawson James in Boca Raton. There are numerous angel investor networks in Palm Beach County, as well as venture capital firms.
In addition Palm Beach is world renowned for its philanthropic community. BioCatalyst
International helps companies with seed financing and preparing business plans for review by venture firms and progressing technology to trial phase.
World Class Researchers
Between Scripps Florida and Florida Atlantic University, Palm Beach County is home to some of the world's most respected researchers. They include, among others:
• Herbert Weissbach, Ph.D.
Distinguished Professor and Director of the Center for Molecular Biology and Biotechnology, Charles E. Schmidt College of Science
• Keith Brew, Ph.D.
Distinguished Professor and Schmidt Senior Fellow, Charles E. Schmidt College of Biomedical Science
• Roy A. Periana, Ph.D.
Professor of Chemistry at Scripps Florida
• Claes Wahlestedt, M.D., Ph.D.
Professor of Biomedical Sciences and Director of Pharmagenomics at Scripps Florida
Charting a Course
In October 2006, the Business Development Board created the Life Science Strategic Steering Group to evaluate the state of the life science industry in the county, and to recommend strategies for its growth and development. The Group is Chaired by Mr. Ken Kirby, President of TransDermal Technologies. Its full report can be read here.
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Life Sciences Market Brief
Recently Enterprise Florida released it's Life Sciences Market Brief which highlights Florida as a new hub for the life sciences industry. The full market brief can be viewed here. |
Medical Fair Asia 2010...click here
More Articles on Life Sciences >>>
For further information on this industry, please contact:
Andrew Duffell, Senior Vice President - Business Recruitment, Retention & Expansion
(561) 835-1008 - aduffell@bdb.org
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