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Florida subsidy orgy over?
Sanford-Burnham Orlando move during Jeb Bush reign not so smooth
What could be called "Jeb Bush's Follies" in Florida is getting worse. Sanford-Burnham Prebys Medical Discovery Institute is considering leaving Lake Nona, near Orlando. A subsidy orgy began in 2003 when San Diego's Scripps Research Institute got a $500 million handout to set up an operation in Palm Beach County.
Two other San Diego-based research institutes joined Scripps in Florida with fat subsidies in hand: Sanford-Burnham Medical Research Institute (near Orlando) and Torrey Pines Institute for Molecular Studies (Port St. Lucie.). But as the Reader reported, Florida was shelling out more than $1 billion per created job — a staggering sum.
In May of this year, Orlando media were reporting that Sanford-Burnham was getting ready to depart Florida. So the state decided to throw good money after bad: the University of Florida would take over Sanford-Burnham. But that will cost $3.7 million per year, according to the Orlando Business Journal. On June 9, the University of Florida Educational Policy & Strategic Initiatives committee said it was in "positive discussions" with the State Department of Economic Opportunity and governor Rick Scott's office.
Jeb Bush, when governor of the state, set up these massive subsidization deals. Even as he ran for the Republican nomination for president this year, Bush was talking as if these research institute welfare deals were boosting the state's economy.
Here's something you might be interested in.
Florida subsidy orgy over?
Sanford-Burnham Orlando move during Jeb Bush reign not so smooth
Florida subsidy orgy over?
Sanford-Burnham Orlando move during Jeb Bush reign not so smooth
What could be called "Jeb Bush's Follies" in Florida is getting worse. Sanford-Burnham Prebys Medical Discovery Institute is considering leaving Lake Nona, near Orlando. A subsidy orgy began in 2003 when San Diego's Scripps Research Institute got a $500 million handout to set up an operation in Palm Beach County.
Two other San Diego-based research institutes joined Scripps in Florida with fat subsidies in hand: Sanford-Burnham Medical Research Institute (near Orlando) and Torrey Pines Institute for Molecular Studies (Port St. Lucie.). But as the Reader reported, Florida was shelling out more than $1 billion per created job — a staggering sum.
In May of this year, Orlando media were reporting that Sanford-Burnham was getting ready to depart Florida. So the state decided to throw good money after bad: the University of Florida would take over Sanford-Burnham. But that will cost $3.7 million per year, according to the Orlando Business Journal. On June 9, the University of Florida Educational Policy & Strategic Initiatives committee said it was in "positive discussions" with the State Department of Economic Opportunity and governor Rick Scott's office.
Jeb Bush, when governor of the state, set up these massive subsidization deals. Even as he ran for the Republican nomination for president this year, Bush was talking as if these research institute welfare deals were boosting the state's economy.
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