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FAU Hits the Gold Mine

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FAU Hits the Gold Mine

FAU will recieve $86.9M from Palm Beach County and $94M from the State to as reimbursement and for the operating expenses of Max Planck Society.

ERROR: A link was posted here (url) but it appears to be a broken link.

http://www.palmbeachdailynews.com/news/content/news/webPlanckSociety0722.html?cxtype=rss&cxsvc=7&cxcat=7

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Re: FAU Hits the Gold Mine

I am not sure we are getting the money. Just the notability of having another world class research organization on our campus.
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i would assume its just more building the county and state will pay for on FAU property. its still only good news.
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SeminOWL2006 said

FAU will recieve $86.9M from Palm Beach County and $94M from the State to as reimbursement and for the operating expenses of Max Planck Society.

http://www.palmbeachdailynews.com/news/content/news/webPlanckSociety0722.html?cxtype=rss&cxsvc=7&cxcat=7

Yeah… all that will be sunk into costs of construction and operation fees. Still very cool.

Scripps
Harbor Branch
Max Planck
Torrey Pines Institute of Molecular Studies (everyone keeps forgetting that one)

all good research partnerships developed over the last few years. We also have existing partnerships with the Navy, NASA and Lockheed Martin.

So not a bad university to be affiliated with, especially since so many undergraduates have access to research opportunities. That's one of the advantages of not going to a school with 50k people.

Now if only we can get another high-profile graduate school…

P.S. I don't respond to guest posts. All guests are encouraged to register with the site.
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Hey now, never said we were getting the money for our pocket, but we dont have to pay for the site or the building or the operating expenses (at least at first)….and we get a world famous research facility…for FREE.

Give me a chicken sandwich and some waffle fries….for FREE.

Florida Atlantic University Owls
2007 Sun Belt Football Champions 2007 New Orleans Bowl Champions 2008 Motor City Bowl Champions 2011 Sun Belt Basketball Champions No Bowls without Owls
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This is unparralleled. What other university in the country or world has 3 of the world's largest bio research institutes operating on the campus?

Scripps, Torrey Pines and Max Planck.

Hopefully, one or more of these institutes will do (with the help of FAU) research on the Boca Raton campus.

FAU - THE REAL SLEEPING GIANT
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Re: FAU Hits the Gold Mine

Sounds like the train is begining to pick up speed. 8).  Sit back for a second think about the opportunities this is going to open for FAU. This is beyond huge it is absolutley monsterous.


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http://www.bocanews.com/local-news/8787planck-to-plant-palm-beach-county-roots.htm




Planck to plant Palm Beach county roots


July 25th, 2008

By John Johnston

Managing Editor

Under a deal struck Tuesday, one of the best known medical research firms in the world will in 2010 break ground in Palm Beach County on its first US facility – a bio-imaging center adjacent to Scripps Florida, and on 100,000 square feet of space at the Florida Atlantic University (FAU) Jupiter campus in Abacoa.

And it won’t be cheap.

The deal struck Thursday was an $87 revenue bond commitment by Palm Beach County to the Munich Germany based Max Planck Society.  In March the state came to an agreement with Planck for an additional $94 million.

The state has already given Planck $10 million. The county commitment to Planck breaks down to $39.4 million this year, $15.6 million in 2011, $13.1 million in 2013, $13.4 million in 2015 and $5.3 million in 2017 – all from revenue bonds.

And thanks to prodding by Commissioner Burt Aaronson, part of the deal struck Tuesday will find Planck kicking in more of its proceeds to local education than the researcher originally proposed.

Planck was originally offering three percent of its net royalty income to education, said Aaronson – but over a timetable that began in 2018 and ended in 2028.

“That was the wrong timetable,” Aaronson said.

He made that case to Planck and gained a new timetable – 2012 to 2038 – “and that’s 26 years rather than 10 years,” Aaronson said.

K-12

“Science education is an important component of our philosophy,” said Dr. Peter Gruss, president of the Max Planck Society, who attended Tuesday’s meeting.

“In addition to the many layers of our partnership with FAU, we believe we can make a very important impact on Palm Beach County’s K through 12 science education program,” he said, adding:

“As we grow our presence in the county, we will be introducing initiatives leading to an internship program, mentoring, a speaker’s bureau, a school lab for local student fieldtrips, BIO-MAX educational materials and the renowned Science Tunnel.”

FAU President Frank Brogan said that FAU trustees fully support county approval of the revenue bonds for Planck. “This has tentacles that reach deep into our graduate and undergraduate programs and it advances our mission to create even more connections and integrate at deeper levels with the county’s K-12 educational system and the community colleges in our area,” said Brogan.

Bio-Tech Hub

In casting a yes vote Tuesday Commissioner Mary McCarty said: “In order for the investment in Scripps to pay dividends we need to support Max Planck so that we can create the synergy necessary to make Palm Beach County a true biotech hub.”

When the Planck proposal was first aired in September 2007, McCarty expressed concern about “how we’re going to pay for this.”

“We have a responsibility to taxpayers of this county,” said McCarty.

$500 Million

Planck coming to Palm Beach County would create a Return on Investment (ROI) of “$500 million over the next 20 years,” Assistant County Administrator Shannon Laroque told commissioners at that  September 2007 meeting.

Moreover, she added, Planck’s presence would solidify the county as a “force worldwide.”  She noted that the 2006 Business Development Conference called for such development, and Planck would “facilitate our business entry into the world market.”

Education

As important as income to Business Development Board (BDB) CEO and President Kelly Smallridge is that Planck’s arrival – and then its synergy with Scripps – would insure local education’s involvement and improvement.

At the same time, Smallridge said this week that the BDB anticipates Planck would support the creation of more than 1,800 jobs – directly and indirectly over the next two decades, and generate more than $2 billion in economic activity.

“Palm Beach County is an ideal location for the Max Planck Society because of our synergy with Scripps, and the proven commitment of the county and the community to enhance the life sciences sector,” agreed Dr. Gruss

Founded in 1948, the Max Planck Society operates 80 institutes in Germany and around Europe, with a staff of nearly 13,000 and an additional 12,000 researchers and visiting scientists in areas ranging from astronomy to the humanities. Among its achievements, Planck has 17 Nobel Laureates and most recently developed the sensor currently being used on the robotic arm on NASA’s Phoenix Mars Lander.

“We live in hope,” that Tuesday’s investment will be a good one, said Commissioner Aaronson
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Talon said

Sounds like the train is begining to pick up speed. 8).  Sit back for a second think about the opportunities this is going to open for FAU. This is beyond huge it is absolutley monsterous.


http://www.bocanews.com/local-news/8787planck-to-plant-palm-beach-county-roots.htm




Planck to plant Palm Beach county roots


July 25th, 2008

By John Johnston

Managing Editor

Under a deal struck Tuesday, one of the best known medical research firms in the world will in 2010 break ground in Palm Beach County on its first US facility – a bio-imaging center adjacent to Scripps Florida, and on 100,000 square feet of space at the Florida Atlantic University (FAU) Jupiter campus in Abacoa.

And it won’t be cheap.

The deal struck Thursday was an $87 revenue bond commitment by Palm Beach County to the Munich Germany based Max Planck Society.  In March the state came to an agreement with Planck for an additional $94 million.




Good article but oops… an $87 revenue bond?

To have all of these places affiliated with FAU is awesome but when their research is published in respected scientific journals, we better get some cred for it too or we'd be losing a main chunk of why we agreed to host them on campus (the other part being the collaborative/internship opportunities for FAU students and faculty).

P.S. I don't respond to guest posts. All guests are encouraged to register with the site.
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Re: FAU Hits the Gold Mine

At the very least we would be in the address..

Max Planck Society
Florida Atlantic University
Jupiter, FL

etc.

But my hope is that we will be getting professors and such through the pipelines of these research entities and then it will be super credible peeps that are publishing only under the FAU name.

On a separate note, did anyone see the article about how Palm Beach County is trying to revive the medical program with or without Boca Community Hospital?

Florida Atlantic University Owls
2007 Sun Belt Football Champions 2007 New Orleans Bowl Champions 2008 Motor City Bowl Champions 2011 Sun Belt Basketball Champions No Bowls without Owls
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Re: FAU Hits the Gold Mine

SeminOWL2006 said

At the very least we would be in the address..

Max Planck Society
Florida Atlantic University
Jupiter, FL

etc.

But my hope is that we will be getting professors and such through the pipelines of these research entities and then it will be super credible peeps that are publishing only under the FAU name.

On a separate note, did anyone see the article about how Palm Beach County is trying to revive the medical program with or without Boca Community Hospital?

Yep! I actually suggested that to one of the doctors involved with the medical school. He said they'd have to see what the University of Miami is willing to do because the beauty of the BRCH hospital on campus would be that UM would get another hospital without spending any money.

Someone else told me that BRCH has been a financial disaster for years because they just don't know what they're doing over there. We may have dodged a bullet. I wouldn't want to read a Palm Beach Post Editorial about how FAU's dreams of having an academic health center was poorly-planned because the Schmidt Medical Center wasn't performing well…

The other good thing is that the article says Palm Beach County "doesn't envision a new facility" meaning we can use that land for something else!

P.S. I don't respond to guest posts. All guests are encouraged to register with the site.
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