Venezuelan Pharmaceutical Firm, Dubbed "Project Monodose," to Relocate to Florida, Bringing New Jobs

Published: Mar 07, 2013

After considering Atlanta and other parts of Georgia, plus parts of Florida, a Venezuelan pharmaceutical company has decided to make Tamarac its home. The company, which is moving out of Venezuela partly because of the country's political and economic crises, has plans for a capital investment of $50 million and is expected to create 100 high-paying jobs over three years. It will manufacture prescription and over-the-counter drugs, medical foods and nutraceutical products. Dubbed Project Monodose, the firm will receive financial incentives from the city, the county and the state, as it qualifies for the Qualified Target Industry (QTI) tax incentive. The company will be given $500,000, or $5,000 for every new job it creates, with the city and the county contributing $50,000 each and the Enterprise Florida, the state's economic development organization, shelling out $400,000.

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