Jun 10, 2008 7:44 pm US/Eastern
Bill To Make MA Leader In Life Sciences Wins Nod
BOSTON (AP) ―
A bill designed to make Massachusetts a world leader in life sciences won the backing of a key committee on Tuesday and could land on Gov. Deval Patrick's desk by the end of the week.
The $1 billion, 10-year initiative is a cornerstone of Patrick's economic strategy. He hopes the bill will lure biotechnology companies to the state, creating high-paying, quality jobs while holding onto scientists and researchers at state institutions.
The bill includes $250 million in tax credits for life sciences companies that agree to create jobs in the Commonwealth. Another $250 million is set aside for research grants to encourage those conducting the cutting edge research to stay in Massachusetts.
The remaining $500 million would be dedicated for major construction and improvement projects designed to benefit the industry.
The bill also identifies possible locations for new scientific research centers including Pittsfield, Lowell, Springfield, Framingham, Dartmouth, Boston, Taunton and Woods Hole.
Rep. Daniel Bosley, a North Adams Democrat and co-chairman of the Economic Development Committee said bill will help draw the best talent to Massachusetts.
"Not only will we create new jobs, we may find cures for innumerable diseases, treatments for rare disorders, or perhaps discover ways to prevent certain diseases all together," Bosley said in a statement.
The bill has its critics, including business advocates who say that with all the focus on new technologies, lawmakers shouldn't forget about the bread and butter industries that employ the bulk of Massachusetts workers.
The bill is expected to be approved by House lawmakers on Wednesday and the Senate on Thursday.
Patrick wants to sign the bill on Monday before flying to San Diego for a biotech conference hosted by a Washington-based industry trade group.
Patrick hope to use the bill to pitch the state to company representatives at the conference.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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