Columnist lambastes Massachusetts on incentives

In a column in the Boston Globe, Jim Stergios, executive director of the Pioneer Institute, criticizes Massachusetts' plan to provide Shire with $48 million in incentives for an expansion project in Lexington. State government, he insists, should not be a venture capital group; the payoff is years away and why should life sciences be favored over industries like the financial services industry, which creates more jobs. Besides, he adds, money that goes to a company like Shire is just less funding for infrastructure. There were other points, but you get the gist. Gov. Deval Patrick has made it clear that he wants to do something big for biotech in his state, and there's a lot of competition out there. It all adds to why Massachusetts made the list of the top five economic development regions this year.

- read the column in the Boston Globe

ALSO: Plenty of other states are reviewing new initiatives for biotechnology. Colorado's House of Representatives gave its preliminary approval Tuesday to a bill that provides $26.5 million in biotech grants over the next five years. Report

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