Sanford Burnham: Florida’s $350 million tax incentive bust
Ten years ago, it all seemed so clear: A California medical research institute would recreate its success in Florida using $350 million in taxpayer-funded incentives. BAD DEAL: Sanford Burnham’s $350 million incentive deal didn’t deliver promised benefits to Florida taxpayers. A key metric to the start-up support: creating 303 jobs. With the state, Orange County and Orlando governments offering generous financing and a long-term time horizon to meet modest performance goals,