ORLANDO, Fla. — The governor's office is getting involved after the sudden departure of Sanford Burnham from Orlando's Medical City.
The company issued a statement Monday about its future while new documents showed its Orlando location was struggling financially.
The California-based medical research group has taken in more than $300 million in tax dollars since it arrived almost a decade ago. However, reports from Fitch, a bond rating company, shows Sanford Burnham eyeing an exit from Central Florida that coincides with the end of taxpayer assistance.
The report states that managements is "evaluating the long-term plan for the Florida operations since the state funding is ending and the operations are unprofitable."
The report also showed that $59 million in bonds issued out of San Diego County shows the company's financial health improving.
Sanford Burnham maintains that it's still moving forward with plans to fold its research facility at Lake Nona into the University of Florida. It said it's working to preserve the research and the jobs at Lake Nona.
Cox Media Group
