Mass. lawmakers see support for $1B biotech bill

Tue, 12 Feb 2008 06:59:55 -0500

One of the top lawmakers in Massachusetts is predicting swift passage of a new bill that would provide a billion dollars in incentives to the life sciences industry in the state. The area around Boston is one of the biggest hubs of biotechnology in the world, but Governor Deval Patrick believes that these incentives--including $500 million for new equipment--is needed to safeguard Massachusetts from predators of the economic development world. A host of states--and several countries--have been designing incentives for biotech companies and the research groups that spawn new development projects. The state has done little, until now, to actually support biotech.

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