Published: Apr 28, 2010 12:35 AM EDT

COLLIER COUNTY - The Florida legislature is setting aside $130 million over the next three years to woo a research facility to Collier County.

They're trying help diversify the local economy by attracting Maine-based Jackson Laboratory.

"It will focus on personalized medicine, on the ability for us to cater treatments for common diseases like cancer," says Tammie Nemecek, President and CEO of Collier County's Economic Development Council.

Jackson Laboratory would build an institute on 50 acres of land off Oil Well Road donated by the Barron Collier Company.

Representative Tom Grady says the average salary of a Jackson Lab employee is about $70 thousand/year.

"Over a period of ten years we would have over 8-thousand jobs," says Rep. Grady. "There would be over 400 jobs just in the first year."

Plus, Jackson Laboratory could attract more companies to this area.

"Over the next decade this institute will help attract spin off businesses around it and the impact could be in the hundreds of millions of dollars," says Nemecek.

Nemecek says personalized medicine is a $232 billion industry and it will grow 11% annually. So, the next time a recession comes around .. more jobs will be here to stay.

The Economic Development Council says it's too preliminary to say exactly how that $130 million will be spent. Rep. Grady says the house and senate will vote to finalize everything this week.