FOR IMMEDIATE RELEASE
Progress Corporate Park announced today the re-branding of the 204 acre park to Progress Park. Capitalizing on more than 25 years of medical research and biotechnology, the new name better positions the Park to fulfill their mission. This change reflects Progress Park’s desire to continue to advance and adapt to further foster growth and development within the Park. The new Progress Park logo represents a rebirth of their image, offering a modern, bold, fresh look for one of the most successful Biotechnology parks in the country, and the only true cluster of biotech companies in the State of Florida.
Alachua Mayor Gib Coerper weighed in on the re-branding efforts stating “25 plus years of an excellent partnership with the City of Alachua, the best is yet to come.” Patti Breedlove, Director of the Sid Martin Biotechnology Incubator also commented on the park’s success, “In the last 24 months RTI Biologics acquired Pioneer Surgical, Pasteuria Bioscience was acquired for $113M, Nanotherapeutics broke ground nearby on a 165,000 SF advanced drug manufacturing facility, AxoGen moved to the NASDAQ, AGTC filed for a $70M IPO, and UF’s Sid Martin Biotechnology Incubator won three first place international awards… There is a rare sense of community among the companies in this park which makes it a great place to do business.”
Progress Park began as the vision of one man – Dr. Robert Marston, president of the University of Florida during the early 1980’s. He envisioned an office and research park where university technology projects and private start-up companies would co-locate for the mutual benefit of both. The University of Florida Foundation owned a large parcel of land in the city of Alachua and 200 of those acres were designated for the park. The park’s DRI was amended in 1999 to allow for much more diverse uses of the property, including light industrial, general office, distribution, medical, retail and hotel use, and park development accelerated. This re-branding to Progress Park effectively leverages the Park’s talent and capabilities, and provides a strategic template for attracting new companies, researchers, facilities, and startups.
About Progress Park;
Progress Park, located north of Gainesville in Alachua, off of US highway 441, offers several hundred thousand square feet of office, lab, and research and development space. Today, the park is home to 30 companies employing approximately 1,100 people. Companies located in Progress Park may apply for Foreign Trade Zone 064 status through JAXPORT. The company’s direct imports would be treated as if they remain in a foreign country and they not pay U.S. import duties. FTZs help customers trim cash flow. They allow companies to defer payment of import duties until they sell goods to U.S. buyers outside the zone. Or they can skip duties completely if the goods are re-exported. The success of the park is demonstrated in its ten year average occupancy of 95%.
Progress Park is a productive setting for the many bioscience, tech and other companies attracted to its site in North Central Florida. Located 5 minutes from I-75 in the City of Alachua, the park has easy access to the University of Florida in Gainesville and the Gainesville Regional Airport. It is centrally located two hours from Orlando, Tampa, Jacksonville and Tallahassee.
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