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Despite bipartisan support, Massachusetts legislature fails to pass $3.5B econ dev package
On Aug. 1, Massachusetts lawmakers ended their 19-month formal session.
On Aug. 1, Massachusetts lawmakers ended their 19-month formal session. In the flurry of legislation that was passed, the Legislature failed to agree on the governor’s proposed $3.5 billion economic development package (the Mass Leads Act), which featured $2.8 billion in bond authorizations combined with tax credits and considered a top priority for both the administration and legislative leaders.
AlphaLab Health, Innovation Works and Allegheny Health Network joint venture, receives $10 million grant
AlphaLab Health, an accelerator program developed by Innovation Works (IW) and Allegheny Health Network (AHN) for life-sciences startups in the Pittsburgh region, has received a $10 million grant from an anonymous donor. The grant establishes the AlphaLab Health Revolving Investment Fund, which will support startups in the accelerator program.
Massachusetts Governor proposes over $2 billion for major initiatives in life sciences, climatetech, and AI
On March 1, Massachusetts Gov.
Useful Stats: SSTI analysis reviews life science patent distribution throughout the U.S., 1998-2020
It appears that innovation is contagious. Maps reveal that once there is a concentration of patents granted to inventors in one U.S. county, innovation starts to percolate in neighboring counties. And the phenomenon isn’t found only in established life sciences hubs like San Diego or Boston. SSTI observed this spillover effect in Washtenaw County, Michigan and Hennepin County, Minnesota, among other places. These data suggest that when a strong base is located, likely due to new companies and startups establishing themselves, innovation lays down its roots and spreads to other counties.
MA life sciences workforce grows 131 percent, recommendations outlined to continue momentum
Moving away from four-year degree programs and toward apprenticeships is one of the recommendations to help ease the workforce shortage experience in the life sciences industry. This and other recommendations are part of a recently released report from the Massachusetts Biotechnology Council, also known as MassBio, on workforce trends in the life sciences industry in Massachusetts.
Recent Research: Beyond economic development, local life science R&D saves local lives
Faculty of the nation’s higher education institutions have long used research publications and citations as a measure of success. A new working paper posted by the National Bureau of Economic Researchers (NBER) suggests a select group of research publications may do more than gain the authors tenure and celebrity in their chosen field: these works are correlated with reductions in local disease-related mortality.
Life science industry proves resilient after difficult year
Helping to meet the challenge of fighting a global pandemic while growing high-quality jobs during an economic downturn, the life sciences industry showed its strength over the course of the past year. An update to the biennial Life Science Workforce Trends report from the Coalition of State Bioscience Institutes (CSBI) asserts that it is because of the industry’s skilled-talent base and sets out to assess the industry’s position and priorities in 2021, focusing on its demands for workforce and talent.
NYC investing $1B in life sciences
New York City Mayor Bill de Blasio has announced that the city is planning to double its $500 million investment in the LifeSci NYC commitment, to reach a total of $1 billion invested in life sciences over the next 10 years.
SSTI encourages OSTP to support bioeconomy through commercialization, apprenticeship assistance
The White House Office of Science and Technology Policy (OSTP) is exploring a national strategy to promote the U.S. bioeconomy. In response to a request for information, SSTI submitted a letter encouraging OSTP to leverage existing regional assets as part of its approach. To see more innovations converted into new products, services and businesses, the letter encourages a new program to fund commercialization assistance and to strengthen SBIR.
MA authorizes more than $1 billion in new economic development activities
The Massachusetts legislature ended its 2018 session with a slate of bills related to tech-based economic development. Legislation for general economic development, life sciences industry, and green communities created new authorizations and provided for more than $1 billion in bond funding authority, with a substantial portion allocation to innovation-related activities. From broadband access to SBIR support to workforce development, the bills created a host of new opportunities for TBED in the Bay State.
MA Gov proposes $500M for life sciences
Massachusetts Gov. Charlie Baker announced a legislative proposal that would provide $500 million over five years for the life sciences sector, extending the state’s commitment to the biotech and medical technology industry. The money would be used for strategic investments in public infrastructure, research and development, workforce training and education.
MI’s research corridor spurs state economy
Michigan’s University Research Corridor, an alliance of Michigan State University, the University of Michigan and Wayne State University, conducted $1.2 billion in academic R&D in the life, medical and health sciences, and served as a stabilizing force to the state’s economy as one of the only sectors that grew during the 2000s. Those are among the findings of the 2017 URC sector report, which was prepared by Public Sector Consultants. The report, Leading Discovery: URC Contributions to the Life, Medical and Health Sciences, notes that employment in the life, medical and health sciences sector, which accounts for one in eight jobs in Michigan, is up 18.9 percent since 2000, compared to overall Michigan employment, which is down 9.3 percent.