Life sciences bill could boost region's economy

June 15, 2008
By Edward Mason
Eagle Tribune

BOSTON — A $1 billion bill, aimed at making Massachusetts a leader in the cutting-edge life sciences industry, could create thousands of jobs locally and fund a long-envisioned Interstate 93 interchange project.

The life sciences bill, a key part of Gov. Deval Patrick's economic strategy, will be signed into law tomorrow, just before the governor and top state lawmakers jet off to the Bio2008 conference in San Diego to pitch Massachusetts as a place for life science companies to prosper.

The bill, which would spend the $1 billion over 10 years, combines tax credits and targeted investments to lure biotechnology, pharmaceutical, medical devices and other related companies to locate and expand here, while encouraging companies to undertake ground-breaking research.

The Merrimack Valley, Cape Ann and the North Shore are home to a cluster of life sciences companies — Wyeth Pharmaceuticals, Acusphere, EMD Serono, GlaxoSmithKline and Zoll Medical Corp. to name a few. They employ thousands of people.

Rep. Barbara A. L'Italien, an Andover Democrat who supported the bill, said the life sciences plan will result in even more jobs across the region. She said it will help cities and towns by increasing their tax bases as new businesses set up shop to take advantage of the state's incentives.

Other states, most notably California, have already approved massive government investments in life sciences.

But not everyone is applauding Massachusetts' action.

Suzana Marusic is president of Lawrence-based Hooke Labs, a developer of research tools used by life science companies. As she tries to grow her young, five-person company, Marusic said state officials should cut red tape before they try to subsidize job creation.

"I would rather they just stay out of my way," Marusic said.

And Sen. Bruce E. Tarr, R-Gloucester, questioned whether the state should be making such a large investment in a single economic sector.

"It's a lot of money at a time when the commonwealth is not in a good position to spend it," Tarr said.

Robert Halpin, president of the Merrimack Valley Economic Development Council, challenged critics who questioned life sciences investment. He said it would make the industry, a key part of the state and regional economy, stronger.

"We already have thousands of jobs" in life sciences, Halpin said. "This can only help solidify that industry."