"Massachusetts leader wants $1 billion for biotech" World's largest Stem-Cell line repository!!

Massachusetts leader wants $1 billion for biotech
By Val Brickates Kennedy, MarketWatch
Last Update: 8:23 PM ET May 8, 2007

BOSTON (MarketWatch) -- Massachusetts Gov. Deval Patrick unveiled a broad spending plan Tuesday that could spell up to $1 billion over 10 years for the state's biotechnology industry.

At a press conference attended by many of the state's leading biotech executives and researchers, Patrick said he is proposing the initiative to maintain the state's leading position in biotechnology research, particularly in the areas of stem cell and RNAi research.

The initiative, which must be approved by Massachusetts state legislators, calls for $500 million to be spent on capital improvements and equipment procurement at Massachusetts-based research facilities, particularly those at the university level. Another $250 million would be set aside for research grants and workforce training initiatives.

Massachusetts' top state legislators are said to favor the proposal, which Patrick's office said would be a combination of a $500 million bond issue and $500 million in state appropriations over 10 years.
The proposal also calls for $250 million in tax incentives targeted at job growth and $250 million in private-sector matching funds for such areas as research grants and workforce training.

Home to many of the world's leading hospitals and renowned institutions such as Harvard University and the Massachusetts Institute of Technology, the state has seen the life-sciences sector emerge as a major driver of its economy.
Patrick's proposal also calls for the establishment of the world's largest stem-cell line repository at the University of Massachusetts Medical School in Worcester. Last year, university researcher Craig Mello was awarded a Nobel Prize for his work in RNAi research. <snip>

http://www.marketwatch.com/news/story/massachusetts-governor-wants-1-billion/story.aspx?guid=%7B70C26FC9-B2CB-4577-BA0F-3ED32C1D7DA9%7D

Imagine, an elected leader working to create jobs. Maybe he'll start a trend.

On edit: I just realized that the vacuum at the top is going to make some very very very strong governors. We won't be taking future presidents from the Senate at all.