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Patrick and Israeli officials sign trade development agreement

Posted by Andrew Ryan, Globe Metro Desk  March 10, 2011 11:57 AM
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By Globe Staff

JERUSALEM – Governor Deval Patrick and his Israeli hosts today signed an agreement that will strengthen research and development links between the Bay State’s research consortiums and Israeli companies.

The memorandum of understanding directly connects Massachusetts to the Israeli Ministry of Industry, Trade and Labor. Both governments will scour companies operating within their borders hoping to identify ideas, businesses, and technology that can help grow local economies.

"Today, we take a new step that will ensure our mutual prosperity and leverage the talents of our uniquely skilled workforces," Patrick said in a statement released here and by his office in Boston.

In formal terms, the state’s International Trade Office and Israel’s Office of the Chief Scientist will tap business and research supported by the Massachusetts Life Sciences Center and the Massachusetts Clean Energy Center with an emphasis on growing the high-tech, life sciences. and clean energy industries in both places.

According to the Patrick administration, nearly 100 companies in the Bay State were founded by Israeli or are built on Israeli-licensed technology. The administration credits those business with generating 6,000 jobs and $2.4 billion in direct revenue for Massachusetts.

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