Wexford Science+ Technology is developing the UM Life Science Park to provide opportunities to foster the development of life sciences, technology, and biotechnology innovations. This 300,000 sq. ft. complex, adjacent to the University of Miami, will include a research lab and a business incubator for emerging businesses affiliated with university research.
FCLF’s NMTC allocation was used to help attract additional NMTC and conventional funding for pre-development and construction of the first building in the park. The project has created 790 jobs during construction and will create 539 permanent jobs when fully occupied. The project is located in a census tract with 39% MSA and 43% poverty rate. Construction of the research park began in December 2009 and was recently completed.