Drewski Posted July 16, 2008 Group: Member Topic Count: 0 Content Count: 280 Reputation: 7 Days Won: 0 Joined: 07/31/2003 Share Posted July 16, 2008 http://www2.tbo.com/content/2008/jul/16/funding-okd-bring-bioengineering-firm-usf/TAMPA - A bioengineering research company that will create 100 high-paying jobs is set to build on the University of South Florida's campus after receiving key funding approval today from the Hillsborough County Commission.Commissioners unanimously approved spending $6 million to help with construction and equipment purchases by Draper Laboratories, a leader in microtechnology applications for missiles and pharmaceuticals. USF will kick in $4 million and the state $10 million to bring the Massachusetts company here.USF President Judy Genshaft told commissioners the $20 million project couldn't be more timely in light of the increasingly dismal economy."This is a particularly important project during a time when we have a lot of downturn. This is a real upturn for Tampa Bay, Tampa Ã¢â‚¬â€ it makes a huge difference," Genshaft said.Draper's research is expected to focus on combining engineering with drug delivery, said Rod Casto, executive director of the USF Research Foundation. The goal is to develop tiny machines, a 10th of the diameter of a human hair, that will travel through the body to an area where drug delivery will be most effective.For instance, if a patient has a heart blockage, the machine would seek out the blockage and dissolve it without affecting the rest of the body, Casto said."You can reduce the amount of drugs," Casto said. "You can program the machines to deliver the drug every four hours. You reduce the side effects."The Draper building will take six to 12 months to build. Gene Gray, head of the county's economic development department, said the facility is expected to leverage $150 million to $300 million in research grants and boost the area economy by $204 million to $337 million.The 100 initial workers will make an average $75,000 a year. Another 111 to 171 jobs could be created during the five- to seven-year ramp-up period. Draper has committed to staying at USF for at least 10 years, with a penalty for noncompliance. Link to comment Share on other sites More sharing options...
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