The following is an excerpt from a State House News Service story originally published on June 6, 2023.
Healey used her appearance Tuesday at the BIO conference to affirm her commitment to reauthorizing the major initiative that began in 2008 with a $1 billion investment in the life science sector over a 10-year period. Former Gov. Charlie Baker in 2018 signed off on $623 million in additional bond authorization and tax credits for the sector over five years, and lawmakers through last year’s economic development bill extended the program until 2025.
“We remain committed to this partnership because it’s rooted in our state’s identity, and it’s advanced both our scientific leadership and our economic development and competitiveness,” Healey said at the conference, which as of Monday morning had logged 18,000 registrants. “We’re looking right now to continue work with a coalition of industry leaders and our state Legislature to plan the next iteration of the Massachusetts Life Sciences Initiative when the current initiative expires in 2025. How can we build? How can we be even bolder, and bigger, and better?”
Speaking to MassBio members at the convention’s Massachusetts Pavilion exhibit space, Healey said her administration wants to work with “all” of its partners to determine what a “meaningful, kickass reauthorization looks like.” Massachusetts will remain a national and global leader in the life sciences sector, vowed Healey, who was joined by Secretary of Economic Development Yvonne Hao, Secretary of Labor and Workforce Development Lauren Jones, and Massachusetts Life Sciences Center President and CEO Kenn Turner.
A life sciences sector group within the state’s Economic Development Planning Council, tasked with developing the administration’s economic development policy, will provide recommendations on supporting the industry, a Healey spokesperson told the News Service.