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Minnesota Governor Outlines Biosciences Activities

March 07, 2003

Minnesota Governor Tim Pawlenty recently unveiled a plan to help make Minnesota a leader in biosciences. Governor Pawlenty says the state's history, expertise and economic infrastructure make it better prepared than most other states to capitalize on the bioscience industry.

Presenting his ideas to the Minnesota Biotechnology Industry Organization (MNBIO) last week, Governor Pawlenty said bioscience advances represent the next frontier and that they will "revolutionize big parts of (the state's) economy within the next two decades."

The governor's proposal includes the following:

  • Governor's Biosciences Summit. Governor Pawlenty plans to bring together leaders from education, research, industry, the investment community, and others to exchange ideas and further chart out a course for developing Minnesota's bioscience future.
  • Development of a Bioscience Park. Similar to one of the governor's proposed JOB Zones, this Bioscience Park would be a private-public partnership designed to attract cutting edge bioscience companies to Minnesota.
  • Create Major Partnership in Genomics and Biotechnology. Bringing together the University of Minnesota and the Mayo Clinic, the governor will lead efforts to create a new partnership and joint ventures between those two institutions as well as Minnesota's bioscience, medical device, and value-added agriculture companies.
  • Stimulate Investment in Minnesota Bioscience Projects. The State Board of Investment would be encouraged to seek out and support Minnesota-based bioscience businesses. The governor pointed to the Wisconsin Investment Board's agreement to invest up to $150 million commitment in Wisconsin-based bioscience and high-tech ventures as a model for Minnesota to follow.
  • Tax Incentives for Bioscience Development. After the state budget deficit is resolved and economic times improve, tax incentives would be provided to spur both research and development and investment in bioscience projects and companies.
  • Fund the University's Translational Research Facility. This new facility will further bioscience discoveries, being geared toward transferring and applying those discoveries in Minnesota's economy.
  • Funding for Research. The governor repeated his commitment to maintain funding for the University of Minnesota's Academic Health Centers and academic health research. His budget preserves and protects recent new funding streams for those purposes.

Governor Pawlenty's biosciences announcement is available at: http://www.governor.state.mn.us/

Minnesota