Lake Nona global biotech firm to build facility, create 300+ high-wage jobs

City Council approved a nearly $380,000 incentive deal Aug. 20 for a Biotech and biopharmaceutical firm to build a major manufacturing plant in .

Cranbury, N.J.-based Amicus Therapeutics Inc. (Nasdaq: FOLD) wants to build a 190,690-square-foot facility — its first biologic drug substance manufacturing plant with associated research and development in Lake Nona. The company will create 316 jobs in Orlando by Dec. 31, 2024. The jobs will pay an average annual wage of $69,670.

Amicus’s total capital investment is $148.85 million to $180 million in and equipment, according to Orlando city council documents. Under ‘s Qualified Target Industry program, the state will provide a total of $1.9 million to Amicus. Orlando will provide 20 percent of the full amount over an eight-year period.

However, the project is not a done deal, yet. In addition to Orlando, the company is considering other states for this project, but the incentives help sweeten the pot for Amicus to choose this area. Orange County also may kick in funding for the project and will decide whether or not to today, Aug. 21, during its commissioners’ meeting.

District 1 City Commissioner Jim Gray agreed that getting Amicus would be a good move for the city. “We are thrilled to welcome Amicus to the southeast part of town,” Gray said during the Aug. 20 city council meeting. “This is exactly what we are trying to attract — an established company with a great reputation bringing some talented smart people and paying them a lot to do their job.”

Tavistock Development Co.’s Lake Nona is a fast-growing southeast Orlando community that already employs about 5,000 people in its 650-acre life sciences hub. Lake Nona notched the No. 15 spot among the nation’s top-selling master-planned communities with 523 home sales in 2017, John Burns Real Estate Consulting reported.

In addition, Lake Nona’s daytime population continues to grow with its Medical City life sciences hub and future developments such as New York-based audit giant KPMG LLP’s $430 million, 55-acre training facility being built on Lake Nona Boulevard. The community already boasts more than 11,000 residents, 5,000 employees and more than 11,000 students at its schools.