ORANGE, Fla. — One million dollars a job is what it cost taxpayers to bring medical research giant Sanford Burnham to Central Florida. Now it’s leaving.
In 2006, $330 million in tax incentives helped bring the medical facility to Lake Nona’s medical city.
Now that the state tax incentives are ending, the facility is leaving.
Sources tell Nine Investigates there are plans in the works to have the University of Florida take over the research while the University of Central Florida assumes a role in the work; although what role UCF will have has not been determined.
“Of course it’s disappointing,” said former Orange County Mayor Rich Crotty.
Crotty was mayor when the deal between the county and Sanford Burnham was sealed.
"That public money has not really paid off in terms of that job creation staying in Orlando,” Crotty said.
9 Investigates uncovered in audits that in 2012, Sanford Burnham was only using state money for half of its bills.
By 2015, state tax dollars were paying for 56 percent
"In this case, a cutback in federal grants sort of hit them,” said UCF economics professor Sean Snaith.
Snaith points to the drop in grants, from 78 to just 67, as one of the key factors in Sanford Burnham's exit.
"A lot of things can go wrong, but a lot of things can go right,” Snaith said.
Right now, Florida Gov. Rick Scott's office is working to find the right exit the medical facility.
The research group has proposed handing off its work to the University of Florida.
In a letter to the governor, UF cautions taking over the research will come at a price, but added it is positioned to take over for Sanford Burnham.
The deal needs to be approved before Sanford Burnham leaves Central Florida.
READ: Questions to Sanford Burnham
Cox Media Group
