House passes life science bill
Photo | Courtesy
The Massachusetts State House.
The Massachusetts House on Wednesday nearly unanimously approved a bill to support the state's life sciences industry, legislation which hews closely to the $1 billion, ten-year initiative launched by Gov. Deval Patrick in 2007.
The House vote Wednesday coincided with a press conference to tout an upcoming international biotech conference in Boston, which could give Gov. Charlie Baker an opportunity to sign an industry-friendly bill into law at the industry's largest gathering of the year.
The bill (H 4501) provides about $463 million in new capital authorizations for the state Life Sciences Capital Fund, with an emphasis on capital grants to increase diversity and opportunity in the Massachusetts life sciences and biotech industries, and extends for another decade a life sciences tax incentive program currently scheduled to expire at the end of 2018.
"The life sciences sector has become an integral part of this state's dynamic economy. This may be considered a life sciences bill but it transcends far beyond that into biotechnology, advanced manufacturing, data analytics, digital health and even construction," Rep. Joseph Wagner, who co-chairs the Joint Committee on Economic Development and Emerging Technologies, said Wednesday.
Among the $462.97 million in new capital authorization in the bill is $150 million carved out for investments in research and facilities throughout the University of Massachusetts. Within the proposed spending is a $47 million earmark for UMass Amherst, a $20 million earmark for UMass Boston, a $21.7 million carveout for UMass Dartmouth, and a $50 million earmark for a joint neuroscience proposal between UMass Lowell and the UMass Medical School in Worcester. Additional carveouts would drive mobile health work at UMass Medical and cell and gene therapy work at UMass Medical and a MassBiologics facility in Fall River.
The bill passed the House on a 147-3 vote, with Republican Reps. Nicholas Boldyga, Marc Lombardo and James Lyons casting the three dissenting votes.
Outlining the bill on the House floor Wednesday afternoon, Wagner said the legislation "builds on" the 10-year, $1 billion life sciences investment bill that Patrick proposed in 2007 and which became law in 2008.
"By any measure, the enactment of legislation 10 years ago has provided a sustained economic vitality here in the commonwealth that we can grow," Wagner said. He added, "By any reasonable measure, the bill we enacted 10 years ago has been a success and we should continue that effort."
Wagner said 80 projects around Massachusetts have benefitted from the first round of funding, that schools have received more than $16.3 million in STEM-related grants and that 11 different tax incentive programs have resulted in nearly 9,000 new jobs.
The House's passage of the life sciences bill came on the same day that Boston Mayor Marty Walsh, Housing and Economic Development Secretary Jay Ash and others gathered to preview the 2018 BIO International Convention, which Boston will host from June 4 through June 7. Organizers say the convention will generate over $33 million in economic impact to the Boston area.
If the Senate follows the House's lead and shepherds the life sciences bill through its chamber by the end of the month, the timing could allow Baker to sign the bill into law at the BIO convention, which is expected to draw 16,000 attendees from 74 countries and will feature 1,800 exhibiting companies.
Baker proposed a five-year, $500 million bill in June 2017 to basically extend the life sciences law, and the very next day flew to California to take part in the 2017 International BIO Conference.
The BIO International Convention, hosted by the Biotechnology Innovation Organization, was also held in Boston in 2007 when Gov. Patrick introduced the 10-year, $1 billion life sciences investment bill that later became law.
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