Nation’s largest biotech will call Sorrento Valley home
Monday, June 12, 2006
The city of San Diego is ramping up incentives to prevent businesses from moving elsewhere. As a result, Cardinal Health, a high tech biotech company with 1,600 employees, plans to build the county's largest biotech industry facility in Sorrento valley.
Mayor Jerry Sanders says the city's Business Expansion, Attraction and Retention team, otherwise known as the Bear Team, worked had to get the company what it wanted.
Sanders: "I don't think it's a mystery to anyone in San Diego, we've not been real good at expediting services for companies and I think the Bear Team did an incredible job. We did clear away the red tape."
According to city officials, Cardinal Health was given about 100 thousand dollars in fee and tax credits, but will generate many times that amount in revenues for the city each year. Alison St John, KPBS News.
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