February 27, 2015
By Mark Terry, BioSpace.com Breaking News Staff
It was announced yesterday that New Brunswick, N.J.-based Johnson & Johnson may bring a “shared services headquarters operation” to the Tampa, Fla. area. Much would depend on an extensive incentive package by the State of Florida and Hillsborough County officials.
If everything comes together, the new center could bring close to 700 jobs with an average annual salary of $75,000 to the area.
“We certainly did a lot of due diligence, and we clearly looked at a multitude of sites, but we are very far along in our negotiations with Tampa and the state of Florida,” said Ernie Knewitz, spokesman for Johnson & Johnson in a statement. “There are many things to like about Tampa.”
Johnson & Johnson already has a major presence in the Florida. The shared services operation would probably include human resources, accounting, information technology and other back-office operations.
The state’s Enterprise Florida business development group would likely pony up $7 million and the county would offer $2.1 million. Another $7 million could be up for grabs if the state’s job recruiting agency, Enterprise Florida, decides to get in on the act. Johnson & Johnson, if it goes for the deal, would invest up to $23.5 million in the facility.
In January 2014, Bristol-Myers Squibb Company opened a North American Capability Center near Tampa International Airport. That facility was expected to create 579 jobs. That and the Johnson & Johnson deal are part of the Tampa Hillsborough Economic Development Corp. which attempts to recruit companies and jobs to the county.
In addition to the biotech incentives, Citigroup recently agreed to set up shop in the county, which is expected to bring in as many as 1,163 job. For that deal the county is likely to contribute up to $3.4 million, which would unlock an additional $12 million in incentive money from the state and other incentive groups. Citigroup plans to make a $90 million capital investment related to the site.
Johnson & Johnson is apparently also actively looking at sites in other states, which undoubtedly also are pulling together tax incentives to seduce the company into locating there. It is also considering other locations in Florida besides Tampa.
“We remain hopeful that, if approved, these incentives will help us win the new jobs and capital investment for Hillsborough County,” said Tampa Hillsborough EDC chief Rick Homans in a statement, “and reaffirm our commitment to support and grow our strong cluster of life science companies here.”
BioSpace Temperature Poll
Analyst Mark Schoenebaum, a biotech and pharmaceuticals analyst and medical doctor for ISI Group Evercore, has been running a Best Hair in Biopharma contest for several months now. So far, the candidates are Bristol-Myers Squibb Company's John Elicker, Receptos’ Chief Executive Officer Faheem Hasnain, Celgene's Vice President of Investor Relations Patrick Flanigan and Acorda Therapeutics' Ron Cohen.
We want to know what our BioSpace community thinks: Who do you believe actually has the Best Hair in BioPharma?
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