Gregoire seeks $350 million biotech fund (Seattle Times)

Wednesday, February 02, 2005 - Page updated at 08:00 A.M.



Gregoire seeks $350 million biotech fund

By Luke Timmerman

Seattle Times business reporter

Gov. Christine Gregoire, in her first major initiative to boost Washington's economy, is pushing to create a $350 million Life Sciences Discovery Fund to bankroll biomedical research in the state.

Gregoire, who made the idea a key part of her campaign's job-creation strategy, is hoping to build momentum for the plan, beginning with a news conference in Olympia tomorrow. By attracting matching private money and federal grants, backers say the total financing resulting from the fund could reach $1 billion.

Though Gregoire's proposal was criticized by Republican gubernatorial rival Dino Rossi during the campaign, it has attracted backing from key leaders in both political parties.

Top Republicans in the Senate — Senate Minority Leader Bill Finkbeiner, R-Kirkland, and Senate floor leader Luke Esser, R-Bellevue — have signed on as co-sponsors. So have House appropriations chairwoman Helen Sommers, D-Seattle, and Senate Majority Leader Lisa Brown, D-Spokane.

The plan calls for taking $350 million of tobacco-settlement money that will flow into the state from 2008 through 2017 and funneling it into promising research ideas at research institutions such as the University of Washington, Washington State University and the Pacific Northwest National Laboratory in Richland.

More:
http://seattletimes.nwsource.com/html/localnews/2002167797_lifesciences02.html

~~~ Yet, the Republicans in this state keep on with their law-suit to call for a new election for Governor, (even though there's no provision for one in the state constitution)! Personally, I just think the Republicans want to wast time and tax-payer money and I don't believe Rossi should get away from from being connected to that.

Google: Paul Allen biotech

The billionaires get what they want in Washington State and the rest of us get to pay to sit in their beautiful new stadiums while our schools rot.

If only Phil Talmadge (hope i spelled that right) didn't get sick!

He was a long shot, but clearly the best. Too bad he's not still on the state supreme court.

I'm glad he's healthy now, in any case.

b_b

however it is important to look at the facts, not to say you are wrong. They built two new multimillion dollar stadiums in CIncinnati and the schools are pathetic. Now this seems like serious idiotic crap, but then I saw how much money was GERNERATED by the stadiums and the surrounding businesses. It was vital to the schools to build the stadiums because they generate more money for the schools than we could have afforded to spend on them without the stadiums. So this bio-tech initiative could bring more jobs, high paying jobs, and the taxes generated by the businesses. So that means more money for the schools, because, in case you didn't know, virtually all funds for schools comes from LOCAL TAXES, which is why poor areas have such shitty schools. So check out some stats on the money generated and if the money being spent comes from local taxes, which at the atate level, it won't. Either fix the way schools are funded to begin with or be happy your governor isn't a Repuke and that she is concerned with progress and creating jobs.

I supported Prop 71 in California (the Stem Cell Initiative). New Jersey is investing stem cell research. Israel, Canada, England, Switzerland, India, South Korea, China, and Japan are all leading the US.

My friend, Paul is right. We are seeing a brain drain of biotech PhD's. It is happening - now, today.

the roads are like a 3rd world country in seattle, and my kidneys can't take much more.

I read somewhere in the paper that all you have to do is just call the mayor and tell him where that ugly pothole is! Or does that only apply to West Seattle and the rich sections of town?