Biotech report urges funding, law changes
TALLAHASSEE (AP) – Florida should spend more money and change tax, environmental and other laws to help grow, attract and retain biotechnology industries, according to a report issued Monday.
The Task Force on the Study of Biotech Competitiveness, created by the Legislature two years ago, submitted its final report to Gov. Charlie Crist. He took no immediate position but said he supports expanding the industry in Florida.
“In these tough economic times, it is critical to ensure Florida maintains a competitive edge,” Crist said.
Those tough times also make it unlikely lawmakers will approve major spending recommendations during the coming budget year, said the panel’s chairman, state Sen. Jeremy Ring, D-Margate.
Ring said other recommendations, though, require relatively little spending and that includes improving Florida’s image as a biotech leader.
The state has spent about $750 million since 2003 attracting world-class biotech research and development. It’s paid off with more than 120 biotech research and development companies now operating in Florida. That includes such major players as The Scripps Research Institute and Burnham Institute for Medical Research.
The Ernst & Young professional services company ranks Florida among the nation’s top 10 biotech centers, but all the state seems to promote are tourism and orange juice, Ring said.
“We don’t tell anyone what we’re doing,” said the former Yahoo Inc. executive. “You never think of Florida as having an innovation economy.”
The task force wants the governor to became “chief sales and marketing officer” by recruiting venture capital and investors.
The report also calls for a review of state and private spending on marketing and branding Florida and urges a focus on attracting outside investors.
The 17-member task force includes education officials such as University of Florida President Bernie Machen, state and local economic development promoters, and representatives of biotech companies.
Its marketing recommendations are designed to support the development of homegrown biotech industries. That’s one of three major approaches. The others are to grow existing biotech industries and attract more from out of state.
In-state entrepreneurship is listed first, though, because it’s likely to create the most jobs for the dollars invested, Ring said.
Another recommendation is to create on-campus incubators to aid and mentor startup companies, including one to focus on the state’s burgeoning medical device sector. Others are to increase collaboration between researchers and entrepreneurs; establish matching grants for spin-offs from university and institute research; and reinstate funding for a program to attract world-class faculty to Florida’s universities.
To grow existing industries, the recommendations call for developing and recruiting talent by teaching biotechnology in middle and high schools. It also calls for creating degree programs in universities and colleges, and providing incentives such as letting graduate students get state employee health insurance.
The section on recruiting out-of-state companies includes establishing a pilot plant for medical devices and making the Florida tax code friendlier to manufacturers.
Another recommendation would change drug laws to let doctors prescribe medications for non-approved purposes such as treating chronic or life-threatening conditions. Such “off-label” prescribing now is allowed only for cancer treatment.