GOVERNOR BUSH ANNOUNCES SRI INTERNATIONAL SELECTS SAINT PETERSBURG FOR MARINE TECHNOLOGY R&D FACILITY

            ST. PETERESBURG – Governor Jeb Bush today announced Silicon Valley-based SRI International, one of the world’s leading independent research and technology development organizations, has selected St. Petersburg as the site for a new marine technology research facility.

            “The expansion of SRI’s world-class research and development operations into Florida is another solid indication of our state’s ability to attract premier R&D organizations and our strong existing foundation in marine science and related research,” said Governor Jeb Bush.  “This expansion will have an important impact on both the state’s economy and our contributions to marine technology.  I applaud the collaborative efforts of our educational leaders, economic development agencies and the regional communities that have catalyzed this innovative partnership.”

            The new facility will be called SRI-St. Petersburg and aims to accelerate research and development of technologies related to ocean science, the maritime industry and port security. SRI’s expansion into Florida is a collaboration with the University of South Florida’s College of Marine Science and its Center for Ocean Technology and is supported by the City of St. Petersburg, Pinellas County and the State. 

            “Ocean science and technology are a growing national priority, and SRI’s reputation has been built on providing high-value innovations to our clients. When we decided to broaden our R&D to include marine technology, Florida—and the Tampa Bay area in particular—became the logical choice,” said Dr. Curtis Carlson, president and CEO of SRI International.  “The institutional infrastructure is in place, and the broad-based support we have received already creates momentum and terrific potential for our new operation.”

            The new facility will be jump-started by transitioning up to 40 staff members from the Center for Ocean Technology. SRI-St. Petersburg plans to grow to 100 jobs over the next five years, bringing as much as $172 million to the local economy, and could reach a total of 200 jobs in the next ten years. Operations are expected to begin by the first of the year.

            “As one of the fastest growing research universities in the country, USF is pleased to collaborate with SRI to advance our research initiatives further along the development path. This collaboration will have a positive and lasting impact on the university and on our region,” said Dr. Judith Genshaft, president of University of South Florida.

            Earlier this year, the Governor created a special incentive program to stimulate innovation, economic diversity, and to attract opportunities and organizations to the State. SRI will receive a $20 million Innovation Incentive Fund grant from the State of Florida. Contingent upon a formal agreement, the City of St. Petersburg will design and construct a new 30,000 to 35,000 square foot R&D facility, designed to house 100 employees, at the Port of St. Petersburg within the Bayboro area, a designated State Enterprise Zone. The city will lease the new facility directly to SRI. Funding for the design and construction of the new facility will be provided by the State of Florida and Pinellas County, which will each provide $5 million for the R&D facility.

            “There’s no question that we are thrilled to have a research organization as prestigious as SRI International join the St. Petersburg community,” said Mayor Rick Baker. “Our goal is to support the development of high-wage jobs and high-value research that will help further economic development in the region.” 

            SRI’s initial focus will be on research and development, technology transfer and commercialization of marine science. Over time, they expect to broaden local research collaborations into additional areas, such as biosciences, nanotechnology, energy, the environment and education.

            “While SRI-St. Petersburg is already a collaborative effort between multiple organizations and local governments, as it grows and develops, we expect it to generate strategic partnerships with other industry segments,” said Kenneth Welch, Chairman of the Board of Commissioners of Pinellas County.  This is exactly the kind of economic engine we need in the Tampa Bay area.”

            The Governor’s Office of Tourism, Trade, and Economic Development worked closely with Enterprise Florida, Pinellas County Economic Development, Pinellas County Board of County Commissioners, City of St. Petersburg, and USF to secure this project for Florida.

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Silicon Valley-based SRI International (www.sri.com) is one of the world's leading independent research and technology development organizations. Founded as Stanford Research Institute in 1946, SRI has been meeting the strategic needs of clients for 60 years. The nonprofit research institute performs client-sponsored research and development for government agencies, commercial businesses and private foundations. In addition to conducting contract R&D, SRI licenses its technologies, forms strategic partnerships and creates spin-off companies.