Make us your home page

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

$6M deal to lure high-tech company to USF approved

TAMPA — Hillsborough County commissioners approved a $6-million subsidy deal Wednesday to lure a nonprofit company specializing in nanotechnology to the University of South Florida.

The unanimous approval is conceptual at this time.

The contract must come back to the board for a final vote, which is expected in 30 to 45 days.

As part of the secret negotiations, the business will not be identified until the agreement is signed.

Bruce Register, the county's corporate business recruiter, said it is a northeastern company with about 1,200 employees and revenue of $400-million. It has strong ties to the Department of Defense, and it will be looking to develop commercially viable uses of its technology.

The deal is contingent on securing $10-million from the state of Florida, and another $4-million from the USF Research Foundation. In return for the subsidies, the institute, which would be based at USF, pledges to create at least 100 jobs paying an average of $75,000.

In all, the project could create up to 271 jobs over five years.

"This is the kind of high-wage, high-quality opportunity we want in our community," said Commission Chairman Ken Hagan.

The company also hopes to build a $14-million electronics plant in St. Petersburg, where it would make an advanced form of circuit boards. Details of that subsidy were not yet available.

$6M deal to lure high-tech company to USF approved 04/16/08 [Last modified: Monday, April 21, 2008 1:21pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Video shows massive sinkhole that swallowed Apopka home and may grow larger

    Public Safety

    APOPKA — A home near Orlando was partially swallowed by a massive sinkhole Tuesday morning that may grow even larger, officials said.

    A home at 222 West Kelly Park Road in Apopka, Fla., is being swallowed by a sinkhole on Tuesday, Sept. 19, 2017. Orange County Fire Rescue spokeswoman Kat Kennedy says crews responded Tuesday morning, shortly after the Apopka house began sinking. [Stephen M. Dowell | Orlando Sentinel via AP]
  2. Daniel Ruth: Public money built Bucs' stadium, so let public sell tickets


    Who knew the Tampa Bay Bucs were actually the Daisies of Dale Mabry?

    Dirk Koetter, Tampa Bay Buccaneers head coach, wants to do what it takes to ensure that those sitting in the lower bowl of Raymond James Stadium are wearing his team's colors. [LOREN ELLIOTT   |   Times]

  3. America's opioid problem is so bad it's cutting into U.S. life expectancy

    Public Safety

    Prosecutors in New York announced this week that an August drug raid yielded 140 pounds of fentanyl, the most in the city's history and enough to kill 32 million people, they told New York 4.

    The average American life expectancy grew overall from 2000 to 2015, but that the astounding rise in opioid-related deaths shaved 2.5 months off this improvement, according to a study. [Associated Press]
  4. After Hurricane Irma, Tampa Bay officers headed south to help out

    Public Safety

    When Hurricane Irma was forecast to pummel the Tampa Bay region, Tampa police Cpl. Whitney McCormick was ready for the worst — to lose her home and all of her possessions.

    Tampa International Airport Police Department Sgt. Eric Diaz (left) stands next to Tampa Police Department Cpl. Whitney McCormick at the Collier County Command Post in the days after Hurricane Irma. More than 100 local law enforcement officers traveled from Tampa Bay to help out the county. (Courtesy of Whitney McCormick)
  5. Forecast: Sunny skies, mainly dry conditions continue across Tampa Bay


    For Tampa Bay residents, Wednesday is expected to bring lots of sunshine, lower humidity and little to no storm chances.

    Tampa Bay's 7 day forecast. [WTSP]