SENATE PASSES LIFE SCIENCES BILL TO CONTINUE INVESTMENT IN CUTTING-EDGE INDUSTRY CRITICAL TO STATE ECONOMY

The Massachusetts State Senate voted yesterday to pass a bill extending the state’s investment in life sciences research and training to capitalize on the state’s national advantage in the sector responsible for thousands of jobs in the state.

This Senate bill represents an opportunity to move our state forward on multiple fronts including finding treatments for diseases, giving a shot in the arm to our economy, and keeping Massachusetts a world-class leader in life sciences.

An Act Providing Continued Investment in the Life Sciences Industry in the Commonwealth, Senate  Bill 2531 will:

• extend the state’s life sciences tax incentive program for another ten years,
• propose millions of dollars in grants to community colleges and vocational schools to increase employment opportunities, and
• authorize spending on initiatives to promote regional efforts to advance innovations in bio-manufacturing.

The bill is based on the $1 billion, ten-year initiative which began in 2007.