Summary:
Amicus Biologics, Inc. (Amicus) is a Florida corporation whose parent company is Amicus Therapeutics, Inc. with headquarters in Cranbury, New Jersey. Amicus is a global technology company at the forefront of advanced therapies to treat a range of rare and orphan diseases. Amicus has a robust development pipeline of treatments for a range of human genetic diseases. Amicus is committed to pursuing treatments for rate metabolic disorders, while maintaining a personal and compassionate focus on the community they serve.
Amicus is proposing to build the first biologic drug substance manufacturing plant with associated research and development in the City of Orlando. The proposed project is an 190,690 square foot manufacturing plant and research and development building in Lake Nona. If the Qualified Target Industry (QTI) program incentive is made available to the company, Amicus will create 316 new-to-Florida jobs by December 31, 2024, paying an average annual wage of $69,670, which is at least 150% of the State of Florida annual wage. The average value of benefits that will be available to employees is $20,901, which includes a comprehensive benefit package.
Amicus’s total capital investment is a minimum of $148,850,000 and a maximum of $180,000,000 in construction and equipment. In addition to the City of Orlando, the company is considering other states for this project. The State of Florida will provide a total of $1,896,000 to Amicus under the QTI program, which includes the City's local financial support. City staff proposes to provide the local 20% QTI match, up to $1,200 per job created, paying an average annual wage of $69,670.
Under this arrangement, the City of Orlando would provide $379,200 as an incentive over an eight year period beginning in Fiscal Year 2021/2022 and ending in Fiscal Year 2028/2029. City staff is recommending this match because Amicus is: 1) a targeted growth industry proposing to build the first biologic drug substance manufacturing plan with associated research and development; 2) creating 316 new jobs paying an average annual wage of $69,670 not including a comprehensive benefit package; 3) investing a minimum of $148,850,000 in construction and equipment; and 4) considering other states for relocation.
The City of Orlando will benefit through the creation of 316 positions by December of 2024 and the likelihood of continued job growth and investment well beyond this time frame. Florida's Qualified Target Industry Program includes strict accountability requirements of the applicant. The pledge of funds pursuant to this resolution shall be contingent upon Amicus being qualified by the State of Florida as a QTI Program participant, meeting its job and wage obligations under the program and future budget appropriations by the Orlando City Council.
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