by Max Marbut
Staff Writer
The Jacksonville Economic Development Commission held its first meeting of 2008 Thursday and unanimously approved the first action item on the first agenda of the year.
Pending final approval by the City Council, the City will invest $13,000 of a total of $65,000 to relocate a German-based corporation’s world headquarters to Jacksonville. The remaining $52,000 will be contributed by the State of Florida Qualified Target Industry (QTI) Tax Refund Program.
BodyTel Europe GMBH has developed the world’s first blood glucose monitor that is able to transmit test results to the Internet using cell phone Bluetooth technology.
BodyTel CEO and Managing Director Stefan Schraps said the QTI was a major factor in the company’s site location decision-making process, and Jacksonville was chosen over Reno, Nev., Raleigh, N.C, Charleston, S.C. and Atlanta. BodyTel is requesting the public investment to offset a portion of its relocation costs, estimated to be $150,000 to lease and build out office space for administrative and marketing staff.
The relocation will bring 13 new full-time jobs to Jacksonville at an average wage level of at least 200 percent of the Florida 2007 statewide average of $72,202, for a total of $942,500 added annually to the local payroll.
The company has developed the world’s first telemedical monitoring and management systems for chronic illnesses with special attention to diabetes. The GlucoTel device measures blood glucose level and transmits the results automatically to an Internet-accessible database for analysis by health professionals or care givers.
Schraps said based on the number of people who have been or will be diagnosed with diabetes, he expects the company could post revenues of more than $40 million by 2009.
The product will be marketed to patients, doctors, diabetes centers and managed-care facilities.
Schraps also said the German government has approved the device and sales will begin next week in Europe. BodyTel is in the process of obtaining approval by the Food and Drug Administration. A clinical trial will begin next month and Schraps is confident the FDA will clear the GlucoTel for use in the U.S.
“What we have done is nothing new on the diagnostic side, but using telecommunications for monitoring is new,” he said. “It’s proven that you can lower the cost of diabetes when you increase the patient’s compliance with treatment, and this is a way to improve monitoring.”
BodyTel will market the base unit and sell the test strips the device requires. The company has applied for patents on several elements of the telecommunications part of the process and also manufactures devices that transmit results for blood pressure and obesity monitoring.
“It’s great to see more new medical technology coming to Jacksonville,” commented City Council member Art Graham, referring to the University of Florida Proton Therapy Institute that opened in Springfield in 2006.
“Jacksonville has always been known as a military town and a port town. Now we’re becoming known as a medical town,” he added.
The Commission also heard a request from South Shore Group Partners to modify its redevelopment agreement with the City for the Hines development, The St. John on the Southbank.
Hines has put the 300-unit condominium project on hold until the real estate market improves, and the company sought to amend the redevelopment agreement for the related improvements to the Riverwalk.
The firm requested an extension to Dec. 7, 2009 for the submittal of the performance bond on the public improvements and the date to obtain a building permit for vertical construction of at least 200 residential units with an option for an additional year.
The amendment was also unanimously approved by the Commission.
“The market is what it is. It’s much better to postpone this project rather than abandon it,” commented JEDC member Barbara Moore.
The redevelopment agreement with South Shore Group approved in December for a 128-slip marina on the Southbank was not affected by Thursday’s action. Legislation to approve that project is pending with City Council.
Also at the meeting, Downtown Vision Inc. Executive Director Terry Lorince delivered the organization’s first quarter FY 2007-08 report. She said an agreement has been made with Catholic Charities to pick up trash Downtown seven days a week (up from five).
Lorince also reported a recent survey of condominium owners in the Business Improvement District revealed that 60 percent claim Downtown as their primary residence.
JEDC Executive Director Ron Barton congratulated DVI and said he believes there will be a “return to basics” this year for the organization.
“2008 won’t be measured by vertical development. We need to focus on making Downtown clean and safe,” he said. “As Downtown becomes more of a neighborhood, residents will expect the same level of service as is found in other areas, and we must continue to find ways to enhance the level of experience for both special events and for Downtown’s residents.”