Florida Cuts Funding For Torrey Pines Institute for Molecular Studies in Port St. Lucie

Published: Nov 18, 2016

Florida has cut off incentive funding slated to go to one of the biotech centers lured to the state a decade ago because of failure to meet job-creation goals over three consecutive years.

But the state Department of Economic Opportunity isn’t coming, just yet, for any taxpayer-funded equipment from the still-open research institute.

The state agency on Monday advised Torrey Pines Institute for Molecular Studies in Port St Lucie that it intends to move the balance of the remaining incentive money, approximately $3.5 million, into the state general-revenue fund.

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