This did not happen overnight,” said Kelly Smallridge, president and CEO of the Business Development Board of Palm Beach County. “This has been 15 years in the making.”

Smallridge noted that Palm Beach County is home to 700 life science companies and 7,400 people are locally employed in the field, excluding hospitals. Aside from Scripps Florida and Max Planck Florida Institute for Neuroscience, the town has used an economic development fund to successfully attract 15 bioscience companies to Jupiter.

“For early stage life science companies to grow, they need access to talent, capital and affordable lab space,” she said.

Beacon Pharmaceutical said its estimated complex would add at least 137 jobs with annual salaries of more than $70,000.

The town council unanimously approved a memorandum of understanding on Tuesday evening that outlined economic incentives should Beacon Pharmaceutical successfully build its complex and create jobs. A nine-acre, town-owned parcel on the northwest corner of Indiantown Road and Florida’s Turnpike will be offered in a 30-year lease-to-own agreement. Also, the town will provide a $500,000 loan guarantee and pay Beacon Pharmaceutical for each job created, but not more than $600,000 over a 10-year period.

George Gentile, of Gentile Glas Holloway O’Mahoney & Associates, said the development plans for the complex would likely go before the town council in May or June.

Mayor Todd Wodraska called it a “game-changer of a day.”

“This makes Jupiter the envy of any community and any municipality that thought they could be in the running for this type of thing,” he said.