Gov. Rick Scott announced that IRX Therapeutics Inc., a clinical stage biotechnology company, will relocate from New York City to St. Petersburg by the year’s end. The announcement said the company will bring with it “more than 280 positions within five years at a projected minimum average wage of $90,000 annually.” The cost to taxpayers: $600,000 from the state’s Innovation Incentive Fund, which targets R&D catalyst projects; $275,000 from Pinellas County; a $275,000 credit toward land owned by the City of St. Petersburg in the Dome Industrial Park (for future expansion), and $50,000 from the University of South Florida. The Florida High Tech Corridor Council and Pinellas County Economic Development were also partner organizations in the economic development project, according to the release.
