The University of Miami Life Science & Technology Park wants to expand — and it wants county taxpayers to help pay for it.
The university’s partner developer, Wexford Miami LLC, is asking the county for $10 million in economic development grants. In return, the project is promising to create a 14-story, 244,000-square-foot expansion of its biotech park, which first opened in 2011.
The $112 million plan includes a hotel and a 646-car parking garage. In the developer’s application with the county, it promises the biotech project would create 476 jobs by the end of 2022. The UM biotech center is located near Jackson Memorial Hospital.
The proposal had its first public unveiling on Thursday, when an economic development committee of Miami-Dade County commissioners voted 3-2 to approve the project’s request. Commissioners Xavier Suarez, Bruno Barreiro, and Audrey Edmonson voted in favor, Commissioners Dennis Moss and Rebeca Sosa voted against.
“It’s bringing a lot of jobs,” said Edmonson, who sponsored the proposal.