FOR IMMEDIATE RELEASE                                                                                  
April 30, 2009                                                                                

BIOSCIENCE COMPANY RELOCATES TO PALM BEACH COUNTY
Town of Jupiter and City of Palm Beach Gardens fund relocation

(West Palm Beach, FL):  Palm Beach County’s reputation as a business location for bioscience companies is growing with the addition of a widely respected company relocating from St. Louis, Missouri. Today the Business Development Board is announcing the headquarters relocation of Leinco Technologies, Inc. to Palm Beach Gardens.

Leinco Technologies, Inc. is a biotechnology company that develops, manufactures and markets products and custom services used in life sciences research and commercial production of diagnostic and genetically engineered substances.

“Not only is this a win for our efforts in attracting high tech and high wage jobs to Palm Beach County, but it shows that Palm Beach County is a sought-after relocation destination for corporate headquarters.” said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County.

Leinco Technologies, Inc. will receive loans from the Town of Jupiter and the City of Palm Beach Gardens in the amount of $350,000 each for capital investment and to help fund the company’s relocation from St. Louis, Missouri. This is the first time funds set aside for economic development by the cities have been used to recruit a company from outside of our area.

“By awarding Leinco Technologies this loan, the Town of Jupiter is continuing its commitment to growing the life science industry corridor in Northern Palm Beach County,” said Jupiter Mayor Karen Golonka. “The Scripps Research Institute and Max Planck Institute have created a wonderful foundation for long-term growth, and we're thrilled that Leinco will be joining in that success.”

Palm Beach Gardens Mayor Joseph Russo commented: “As we struggle through this current recession, it is great news that a solid company like Leinco is planning to move to Palm Beach Gardens. As banks are not in the lending mode right now, it was fortuitous that we had the earmarked reserve funds available for us to proceed with this loan, which is, in effect, an investment in our City’s future. Once we build out the biotech cluster, we should be insulated from future economic downturns.”

Patrick Leinert, president of Leinco Technologies founded the company in 1992. The company offers excellence in early discovery research products and a wide array of custom biotechnology services.

“Our company will benefit from its new location in Palm Beach Gardens, near research giants Max Planck Florida Institute and Scripps Florida,” said Leinert. “The emerging life science industry in Palm Beach County, as a whole, is an exciting project to be a part of.”

Leinco Technologies, Inc. will relocate to Palm Beach Gardens over a 12 month period, using funds from the loans to build an efficient state of the art life sciences research and development and manufacturing facility. Leinco Technologies will create 15 jobs it its first year in Palm Beach County, 8 jobs in year two and 12 jobs in year three for a total of 35 high tech jobs over the next three years. The economic impact of the project is projected to be $64,862,249 over three years.

The Business Development Board worked with the company to assess its needs as it considered its options for a move from St. Louis to Palm Beach County, and facilitated the relationships with both Jupiter and Palm Beach Gardens. BDB staff also conducted a familiarization tour for the company to search for real estate and meet local leaders. The company will locate at 10385 Ironwood Street, Palm Beach Gardens, FL 33410 working with Asset Specialists and Tercilla Courtemanche on the acquisition and design of property.

About The Business Development Board of Palm Beach County

The Business Development Board of Palm Beach County is the official public/private economic development organization for Palm Beach County and Enterprise Florida. Founded in 1982 as a not-for-profit corporation, our primary purpose is to attract and retain new industry, business investment, high quality jobs and workforce development through corporate relocations, expansions and international trade.

During the past five years, the BDB has assisted companies that have created more than 7,700 direct jobs with average salaries greater than $55,400 , resulting in more than $355 million in capital investment to Palm Beach County and an economic impact that exceeds $1.8 billion . Additional information can be found at the BDB’s Web site, www.bdb.org.

Contact : Denise Jakows
561-835-1008, djakows@bdb.org