Florida's state and local governments have given away more than $1 billion in incentives to lure biotechnology firms to the state, but a startling new report raises serious doubts about the state's deep-pocket strategy. The grim fact is Florida is losing ground in the biotech race.
The Milken Institute's 2008 State Science and Technology Index ought to serve as a wake-up call to politicians who think offering tax incentives to biotech industry is sufficient. The report takes inventory of states' ability to build and sustain high-tech economies, evaluating 77 indicators in areas such as workforce development, education, technology infrastructure and research funding.
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