Massachusetts’ governor Deval Patrick laid out his plan yesterday for a billion dollar investment in the life sciences. The new legislation would finance cutting-edge research, create the nation’s largest stem cell bank, and provide expanded tax credits to life science companies.
MA is just one of several states to join the biotech gold rush. As this editorial from the Boston Globe hints, the state is feeling the pressure from initiatives launched in competing states like California, New Jersey, and North Carolina. The new proposal provides $500 million in higher education investments, filling the gap pointed out in the Boston Globe:
“The missing link in the economic development agenda is a community college system that responds to the needs of the labor market. While community college systems in North Carolina and California are collaborating with employers and universities throughout their states to develop bio-manufacturing certificate and degree programs, Massachusetts has few degrees and only tried a pilot certificate program in 2001.”
Read more about the initiative.