Fairfax County has abandoned funding plans for a massive, medical research center slated for the area.
The move signals the second anticipated financier to back out on the Ignite Institute for Individualized Health in recent weeks — and renews hopes for Montgomery County to woo the biotech researcher.
County leaders were considering up to $150 million in revenue bonds for the genomics startup but got cold feet after Inova Health System said it couldn’t drum up$25 million previously pledged for the center.
“Fairfax County was concerned about being left out there by ourselves with a very ambitious project,” Board of Supervisors Chairwoman Sharon Bulova said. “Without a medical partner and without a funding partner, there is no way Fairfax can do it.”
Even with the setbacks, Ignite officials say they remain committed to a headquarters in the Washington area. Ignite President and Chief Executive Officer Dietrich Stephan has said willing partners will fill the void left by the county and Inova.
Montgomery County officials hope Stephan will look elsewhere despite a handful of partnerships already established in the commonwealth.
“I think it opens up the door to renew discussions with them,” said Steven Silverman, director of the Montgomery County Department of Economic Development. “If Inova hadn’t participated in this, there would have been no Fairfax or state of Virginia commitment.”
Stephan did not return calls for comment, but spokeswoman Liza Morris said, “Ignite is currently reassessing and will continue to provide updates on progress in the weeks and months ahead.”
In Virginia, the center will be eligible for $22 million in state funding — just signed by Gov. Bob McDonnell — tied to the creation of more than 400 jobs expected to come with the center.
Ignite is temporarily housed in Herndon’s Center for Innovative Technology and plans to make expansions to the building before relocating to a permanent facility.
The timing certainly isn’t ideal for Fairfax, which is trying to lure defense giant Northrop Grumman in a high-profile competition among the region’s jurisdictions.
“I think it’s unfortunate it was not able to work out,” Bulova said. “Just because that particular model couldn’t happen doesn’t mean we aren’t interested in having [biotech]in Fairfax County.”
