Petri dish for economic growth
THE BIOTECHNOLOGY Industry Organization convention in San Diego this week has turned into a victory party for Governor Patrick. Accompanied by economic-development officials and legislative leaders and staffers, the governor is using the annual confab to tout the state's $1 billion life sciences bill, which he signed yesterday. And for his efforts to promote biotech in Massachusetts, Patrick himself will be honored today as the industry group's governor of the year.
The initiative's price tag alone shows that the Commonwealth wants to stay competitive in a dynamic industry. But its success isn't yet guaranteed; it will depend upon how that money is distributed in the next 10 years. When the convention ends, the burden will fall on the fledgling Massachusetts Life Sciences Center to steer money toward high-impact research and other projects - without getting caught in red tape or political maneuvering.
So far, the signs are good. The bill commits $500 million for research facilities, infrastructure improvements, and other capital projects; $250 million for tax credits; and $250 million for research grants. The plan is flexible enough to support research at private institutions while making major investments at public universities. Patrick and legislators fended off the most flagrant attempts to divert money into political pet projects with little direct relevance to the biotech industry, such as $49.5 million for a science building at a state college with no graduate science programs.
Fortunately, the life sciences center will have significant discretion over what to fund. But the agency will need a strong rudder. In an interview at the Globe last week, the center's new director, Susan Windham-Bannister, said its decisions will be based on well-defined metrics. The success of the agency will also depend on the integrity and wisdom of the experts and staffers who review grant applications.
The life sciences center has an impressive scientific advisory board, but its members necessarily have ties to prominent universities and biotech firms. The agency will quickly have to find the balance between getting advice from seasoned experts in biotech and making sure institutional ties don't influence which projects get funding.
Ideally, the mere presence of Harvard, MIT, and top-notch hospitals would be enough to keep the local biotech business vibrant forever. But because other jurisdictions are courting the industry, Massachusetts needs to work - and spend - to maintain its lead. Enacting Patrick's life sciences bill was an important step. The real test comes over the next 10 years.
