Thousands of biotech execs flocking to San Diego for the annual BIO meeting are likely to hear an earful from Massachusetts Governor Deval Patrick, who will be arriving with a freshly approved, $1 billion incentives program to woo biotech companies. Lawmakers had signed off on the legislation late last week, leaving Patrick just enough time to sign the bill today before hopping a flight to the West Coast confab.
The best thing that Massachusetts has going for it is a thriving cluster of life science companies that have created a legion of experienced executives and top scientists--many of whom work among the universities in and around Boston. That kind of cluster effect--added to a new slate of incentives--is likely to make the state much more effective at attracting more companies to the area. It should also help overcome many of the bureaucratic barriers that start-ups faced in Massachusetts.
Massachusetts made FierceBiotech's list of top economic development areas for the industry this year--a first for the state.
- read the story from the Boston Globe