The non-profit Jackson Laboratory has a solid reputation in its field and a demonstrated track record of success in securing public funding. But that does not justify Sarasota County jumping on the Jackson Lab bandwagon heading our way.

Both Collier and Hillsborough counties turned down the opportunity. Why? Too risky, they said. Not enough return on investment. After reading Washington Economic Group’s economic impact and economic viability review for Collier County, we see numbers based on pure speculation.

The impact numbers are not even based on Jackson Lab’s direct job creation in the community; fundamental to its calculations is the premise that other companies will want to be a part of this biomedical research “cluster,” with Jackson Lab as the base.

If a biomedical cluster does develop, will other companies expect that same kind of subsidy from Sarasota taxpayers? If Sarasota County balks at the expense, will those companies look for other communities to fund their projects? And what about other uses for Sarasota tax dollars? What will we be giving up if we decide to fund Jackson Lab?

The expense of the Jackson Lab project becomes more and more troubling the closer one looks at the numbers.

In a March 22 article, Mike Hyde (Jackson vice president) stated, “There is a limit to the time and money Jackson will expend in arriving at a Florida deal.” He also acknowledges having previous discussions with Utah and Texas. We see this as a strong-arm tactic applying pressure to rush a decision.

Hyde’s comment is on the heels of Sarasota paying consultants to assess the growth potential of Jackson Lab. The county did not task these consultants with analyzing whether Jackson Lab is a good deal for Sarasota — they were asked to find ways to maximize the deal. This approach is in stark contrast to both Collier and Hillsborough counties. They didn’t assume it was profitable. They analyzed the project’s viability first and found it a bad deal.

Jackson Lab “didn’t understand politics” said State Sen. Mike Bennett, R-Bradenton, referring to problems securing state funding. But it’s all politics! Where’s the solid business plan from a company seeking millions in state, county and foundation money? Too many unanswered questions.

The county has an obligation to open up the discussions by sharing the business plan for Sarasota in an open and transparent forum. The county has a duty to inform voters of the advantages as well as the risks, so when this is put to referendum, the voters are able to make an informed decision.

Carolann Cahill is a member of Sarasota Citizens for Responsible Government. 
Jim Lampl is a small business consultant and investor, who follows local issues.

 

 

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