Community Budget Issue Requests - Tracking Id #3276
Poinciana Biopharmaceutical Park
Requester: Dennis Stackhouse Organization: Florida Consortium for Biomedical Research
Project Title: Poinciana Biopharmaceutical Park Date Submitted 1/12/2007 1:14:46 PM
Sponsors: Haridopolos
Statewide Interest:
Economic Development. Will set up a world class medical cluster and research institute in Florida.
Recipient: The Florida Consortium for Biomedical Research   Contact: Brady Benford  
  780 Fisherman Street   Contact Phone: (850) 224-9634  
  Opa-Locka 33054   Contact email:
Counties: Miami-Dade
Gov't Entity:   Private Organization (Profit/Not for Profit): Yes
Project Description:
Poinciana Partners LLC and Medivector Inc. have been investing in the life sciences industry in Miami's Liberty City area over the last three years, specializing in diseases of the central nervous system (CNS). Leveraging $20 million in state seed money, Poinciana and Medivector are looking to expand upon these investments. Due to the clustering tendencies of the life sciences industry, and the supportive fiscal and economic environment, these investments have the potential to spur the creation of a world class life sciences cluster in the Miami area, including seeding an environment that can attract world-class institutions, becoming a part of the community that is working on the next frontier in biomedicine (e.g. personalized medicines), and in the process generating 16,000 jobs over the next seven years.
Is this a project related to a federal or state declared disaster? No
Measurable Outcome Anticipated:
Over 16,000 higher wage jobs created over 7 years. Over 55 million dollars in tax revenus to the state and local governments.
Amount requested from the State for this project this year: $20,000,000
Total cost of the project: $120,000,000
Request has been made to fund: Construction
What type of match exists for this project? Local
  Cash Amount $23,000,000  
Was this project previously funded by the state?   No
Is future-year funding likely to be requested?   No
Was this project included in an Agency's Budget Request?   No
Was this project included in the Governor's Recommended Budget? Unknown
Is there a documented need for this project? Yes
  Documentation: Estimated Economic Impact Statement commissioned by Poinciania Partners LLC
Was this project request heard before a publicly noticed meeting of a body of elected officials (municipal, county, or state)?   Yes
  Hearing Body: Miami-Dade Board of County Commissioners
Is this a water project as described in Section 403.885, Laws of Florida?   No