In an effort to consolidate science labs from around the country and help the environment, biofuel company Algenol, proposed a $10 million plan for a huge research and development center which will also provide 30 new high paying jobs in the science and technology fields. Algenol met with the Lee County commissioners for two hours in order to present their idea and secure the investment from the County.
They plan to open the 40 thousand square foot center in Bonita Springs alongside a 40 acre algae plantation which is the main derivative of their ethanol based biofuel. The original plan was to open the plant in Texas, but CEO Paul Woods was convinced to look at Bonita Springs in Lee County as this is where he lives, also making Algenol the first biotechnology company to have its headquarters in the county.
The technology that Woods created is to use carbon dioxide, along with sea water and algae to produce ethanol. Currently they produce 6000 gallons per acre of algae and hope to make this $1 per gallon. Texas would have been a better fit for what he is trying to do, admitted Woods, but at the same time he wants to be seen as the future.
Backup plans to partner with other counties are also prepared in case the decision to partner with Lee County is rejected. When asked about the $10 million that was needed, Woods informed the commissioners that this would be for the administrative side of the company and with 12 offices located across various time zones, the basis for the company and what they do is already there.
The Bonita office, to be located at the Alico Road Interchange, would have actual scientists working in engineering labs with the algae and carbon dioxide to improve and enhance the technology already there. This would not only be highly beneficial for the future of biofuels and other products, but would be a massive opportunity for the economic development of Lee County.
The commissioners were largely interested in how many engineering jobs were going to be created for their investment of tax payers’ money. Initially Algenol has indicated that there will be 30 high paying jobs in the company which are for highly qualified people. They also expect to introduce 120 jobs at first for the center to run efficiently which would later increase to between 300 and 400 jobs.
Woods also showed the commissioners how positive he is in the proposal, in that he and his partners were investing $80 million of their own. Their other main concern, however, was that the company would be bought out by a bigger company like Dow Chemical. The commissioners wanted to know that Algenol would be there to stay on a long term basis. Woods eased their concerns saying that Dow did not have any biologists on their staff and that with a 100 PhD’s coming to Algenol’s new headquarters, they would not exactly want to move to Michigan where Dow is based.
On Tuesday the 2nd, Lee County accepted the proposal with a 3-2 vote in favor of the $10 million biofuel investment. Woods said that 100 or so technology jobs were immediately available about half of which were going to be for locals. If you want to find out more about these kinds of high paying jobs in the engineering, science and technology fields, visit 100K Job Finder today and become a member!
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