There is a large concentration of health sciences companies already located within the Northwest Florida region. The larger concentrations of health sciences companies are located primarily in Pensacola, Panama City, and Ft. Walton Beach.
The Benefits Northwest Florida offers for Health Sciences Companies
The following are just a few advantages Northwest Florida has to offer:
- Workforce Training Incentives
Surgical and medical instrument manufacturing companies and some professional, scientific, and technical services companies are considered qualifying target industries by Workforce Florida, Inc. and can receive funding priority for the Incumbent Worker Training (IWT) Grant program.
- Renowned Research Centers
There are two major research centers located in Northwest Florida – Institute for Human and Machine Cognition (IHMC) (Escambia) and The Andrews Institute (Santa Rosa). Additionally, medical device manufacturing research is also available at nearby institutes.
- High Impact Sector
Biomedical companies are one of Florida's designated high impact sectors. This is beneficial when a company is applying for a Capital Investment Tax Credit or a High Impact Performance Incentive Grant.