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Subsidy Tracker Individual Entry

Company: Torrey Pines Institute for Molecular Studies
Parent Company: Torrey Pines Institute For Molecular Studies
Subsidy Source: multiple
Location: Florida
City: Port St. Lucie
County: St. Lucie
Project Description: medical research facility and headquarters relocation
Year: 2006
Major Industry of Parent: healthcare services
Specific Industry of Parent: biomedical research
Subsidy Value: $81,900,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
Number of Jobs or Training Slots: 189
Wage Data: $62321
Wage Data Type: average annual wage
Source of Data: The value and the breakdown of the subsidy package and the job and wage requirements are taken from: The Florida Senate Interim Report 2009-107, "Review of OTTED's Oversight of the Innovation Grant Program," October 2008, p.5; available online at: (click here). Information on the Quick Action Closing Fund subsidy is taken from: Office of Program Policy Analysis & Government Accountability Report No. 10-05, "Biotechnology Clusters Developing Slowly; Startup Assistance May Encourage Growth," January 2010; available online at: (click here)
Notes: Torrey Pines, a private non-profit research center, received state and local subsidy for relocating its headquarters from La Jolla, CA, and establishing research facilities. The state contributed $24.7 million through the Innovation Incentive Program and $7.2 million through the Quick Action Closing Fund The county contributed $10 million and the city $40 million for buildings and equipment. Torrey Pine received also about $21 million as a private donation; this amount was not included in the total. Overlaps with main Subsidy Tracker data: a $24.7 million Innovation Incentive entry and a $7.3 million Quick Action Closing Fund entry, both for 2006.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.