More biotech jobs moving to Palm Beach Gardens

by Rodney Forbes on May 1, 2009

The following article shows the benefits to the local economy of having the Scripps Florida facility. My guess is more biotech firms will continue to relocate to Palm Beach Gardens. This is great news for the county and the real estate market as well.

Palm Beach Gardens is getting a new bioscience company that is expected to bring 35 jobs with average salaries of $62,000 a year.

Leinco Technologies, which develops and manufacturers life science products for pharmaceutical companies and research institutions, is relocating from St. Louis, Mo.

The company expects to have 15 jobs in the first year, add eight jobs in the second and an additional 12 in year three.

Jupiter and Palm Beach Gardens will each loan Leinco $350,000 for its capital investment and relocation. The economic impact of the move is projected to be $64.8 million over three years, according to the Business Development Board of Palm Beach County, which helped facilitate the move.

Leinco is making the move to Palm Beach Gardens because of the budding opportunities with Scripps Research Institute and the Max Planck Institute.

“We want to be part of the biotech cluster that’s here,” company founder and President Patrick Leinert said.

Kelly Smallridge, president and CEO of the Business Development Board, welcomed the move.

“It is the largest for-profit private bioscience organization we’ve recruited to the area since Scripps,” she noted.

Source: South Florida Business Journals

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