Massachusetts Governor Proposes $500million

School Building Budget for Stem Cell Bank

Angela Januzzi

August 28, 2007 

Though it happened last month, most college and university administrators outside Massachusetts are just now hearing about Governor Deval Patrick’s proposed $500million budget allocation University of Massachusetts Medical School in Worcester. 

The governor first proposed the bill on July 19^th, saying: "With this legislation we can begin a robust stage in our own long march toward investment in innovation and investing in innovation infrastructure throughout the region and in every region of the Commonwealth.” He also added, "We want to create a pipeline of ideas to cures, from inspiration to commercialization." 

The initiative would be enacted over ten years, and offer $25 million per year for research grants, fellowships, and training programs. In addition, the measure would allow $25 million each year to provide tax incentives for companies dealing in life sciences. The major proposal emphasizes the accelerating pace at which the education industry is merging with outside industries. In order to sustain themselves, campus administrators are realizing their finances depend on no longer functioning as academic islands. 

Source: Schworm, Peter and April Simpson. “Patrick pitches biotech plan.” The Boston Globe. Posted: July 20, 2007.