Massachusetts Governor Deval Patrick has been campaigning hard for his $1 billion biotech initiative--maybe a little too hard. A number of economists contacted by The Boston Globe had a hard time figuring out how Patrick could claim the measure would create 250,000 new jobs in the state. "It sounds very ambitious," notes John Bitner, chief economist for Eastern Investment Advisors, "especially if you consider Massachusetts' reputation for hard winters and a high cost of living."
Piece of cake, responds the guv's people. A third of those jobs would be created directly in life sciences, which currently employs up to 75,000 people. And those new jobs would support a host of people in other industries.
- read the article in The Boston Globe