Mass. Gov. Patrick Signs Legislation Allocating $1B For Biotechnology Research

Main Category: Pharma Industry / Biotech Industry
Also Included In: Stem Cell Research
Article Date: 19 Jun 2008 - 8:00 PDT

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Massachusetts Gov. Deval Patrick (D) on Monday signed a measure that will allocate $1 billion to the biotechnology industry over 10 years, the Boston Globe reports (Boston Globe, 6/16). The measure includes $250 million in tax incentives for biotech companies; $250 million in grants for research, fellowships and work force training; and $500 million for infrastructure, including a stem cell bank at the University of Massachusetts Medical School.

According to Reuters, the bill aims to fill a funding shortfall caused by a ban on the use of federal funds for human embryonic stem cell research, as well as to challenge California's "dominance" in the field (Szep, Reuters, 6/16). Federal funding for embryonic stem cell research is allowed only for research using embryonic stem cell lines created on or before Aug. 9, 2001, under a policy announced by President Bush on that date (Daily Women's Health Policy Report, 4/10). California voters in 2004 approved a plan to invest $3 billion of tax funds over 10 years into embryonic stem cell research (Daily Women's Health Policy Report, 5/9).

Patrick said the measure will help researchers develop cures for diseases and create new jobs in the state. "This initiative is about so much more than putting researchers and resources together," Patrick said adding that it is "about Massachusetts advancing human healing." Rep. Mary Rogeness (R), who voted against the measure, said she is opposed to it because it gave tax breaks to biotech companies but not other companies (Ring, Springfield Republican, 6/17).

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