Home Economic Development Malloy proposes $200M bioscience investment

Malloy proposes $200M bioscience investment


Malloy proposed yesterday an additional investment of $200 million into the state’s bioscience initiative to continue the industry’s growth in the region. It will be a part of Malloy’s budget proposal in February.

The investment, made over 10 years, would be administered by the state’s quasi-public economic development entity, Connecticut Innovations (CI).

Through CI, the funding would primarily be used to attract and invest in bioscience companies, with the goal of creating a thriving industry in Connecticut with well-paying jobs.

“Ongoing investment in bioscience will result in high-value job growth,” said Claire Leonardi, CI executive director, in a press release. “This plan ensures we continue to build a strong base in the short term, and in the long term it allows us to leverage additional investment to increase overall economic growth.”

An investment made previously to Jackson Laboratory for Genomic Medicine, the poster child of the bioscience initiative, is expected bring 6,800 permanent jobs to Connecticut by the end of 20 years.

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