life sciences

The White House Office of Science and Technology Policy (OSTP) is exploring a national strategy to promote the U.S. bioeconomy. In response to a request for information, SSTI submitted a letter encouraging OSTP to leverage existing regional assets as part of its approach. To see more innovations converted into new products, services and businesses, the letter encourages a new program to fund commercialization assistance and to strengthen SBIR.

The Massachusetts legislature ended its 2018 session with a slate of bills related to tech-based economic development. Legislation for general economic development, life sciences industry, and green communities created new authorizations and provided for more than $1 billion in bond funding authority, with a substantial portion allocation to innovation-related activities. From broadband access to SBIR support to workforce development, the bills created a host of new opportunities for TBED in the Bay State.

Massachusetts Gov. Charlie Baker announced a legislative proposal that would provide $500 million over five years for the life sciences sector, extending the state’s commitment to the biotech and medical technology industry. The money would be used for strategic investments in public infrastructure, research and development, workforce training and education.

Michigan’s University Research Corridor, an alliance of Michigan State University, the University of Michigan and Wayne State University, conducted $1.2 billion in academic R&D in the life, medical and health sciences, and served as a stabilizing force to the state’s economy as one of the only sectors that grew during the 2000s. Those are among the findings of the 2017 URC sector report, which was prepared by Public Sector Consultants. The report, Leading Discovery: URC Contributions to the Life, Medical and Health Sciences, notes that employment in the life, medical and health sciences sector, which accounts for one in eight jobs in Michigan, is up 18.9 percent since 2000, compared to overall Michigan employment, which is down 9.3 percent.