Maryland earmarks another $500M for biotech

Maryland is upping its ante in an ambitious bid to attract biotech companies to the state. Just days after the state took the spotlight at BIO with an announced plan to provide $1.1 billion of incentives for the industry, state officials now say they will invest up to $500 million of state pension money in the field--with Maryland-based biotechs getting the lion's share of the money.

"We're serious in Maryland about growing and supporting the industry," said Comptroller Peter Franchot.

California went a long way to setting the pace for state biotech initiatives with its $3 billion stem cell plan. And Massachusetts has gained considerable attention with its new $1 billion program. It seems like it takes at least 10 figures to grab headlines in the economic development field these days.

- read the article in the Baltimore Sun