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.