Over $1 Million Per Subsidized Job

Don, I remember your coverage of the TSRI Florida deal back when it was first in the works. Back then you pointed out: "Florida and Palm Beach County have anted up the $569 million on Scripps' guarantee that its new Florida research center will hire 545 people in seven years. That's about one million dollars per job. Astounding. But, says Governor Jeb Bush, biotech companies springing up and relocating to the area will create 50,000 industry jobs in 15 years." "In October, when Bush pitched the legislature for a fat Scripps subsidy, the governor's office sent out a news release saying that the projection of future jobs was based on the fact that 80 percent of San Diego biotechs "are within a three-mile radius of the Scripps facility in La Jolla." The news release didn't mention that the University of California at San Diego, Salk Institute, Burnham Institute, and other science centers are located in the same area. In fact, only 40 San Diego biotechs supposedly owe their existence to Scripps, and it isn't clear how many are still in operation." "According to the Ft. Lauderdale Sun-Sentinel, the Bush team's economic model foresees 173 new biotech companies arising or arriving in the 14th year. But in Massachusetts, one of three top biotech areas, only 5 to 20 companies are added each year. Hmmm." Are there any estimates so far on how many jobs have been created outside of the research campuses but are still due to those campuses? Are there any estimates on the cost per subsidized Padres ballpark job? Even better, cost per living-wage ballpark job?
— May 28, 2011 2:08 p.m.

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