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Pennsylvania Governor Announces $100 Million to Seed Biotech Initiatives
On Wednesday, Pennsylvania Governor Mark Schweiker officially launched Pennsylvania's Life Sciences Greenhouse, an historic initiative to be spread among three regions of the state — Southeast, Southwest and Central Pennsylvania.
The Governor announced $100 million will seed the program, including $33.8 million for the Southeast region, $33.3 million for the Southwest region, and $32.8 million for Central Pennsylvania. The state's financial support, which will come from surplus tobacco settlement funds, is the largest single technology-related, economic development investment in Pennsylvania history, according to a press release issued by the Governor's office.
Pennsylvania's Life Sciences Greenhouse is designed to build on the biotechnology research at Pennsylvania's top universities. The initiative is expected to create 4,400 new jobs, attract or create 100 new biotechnology companies, and leverage more than $150 million in private capital over the next five years.
Renal Solutions Inc. (RSI), an integrated medical device and health-care service company based in Indiana, is the first company to partner with the initiative. RSI will relocate its headquarters to the Thorn Hill Industrial Park in Warrendale, Penn.
The Pennsylvania Life Sciences Greenhouse seeks to replicate the success of the Pittsburgh Digital Greenhouse, launched by former Gov. Tom Ridge in 1999.