UMass Med School Project Gets $90M In Life Sciences Funding
The Massachusetts Life Sciences Center today approved granting $90 million, its largest investment to date, into the University of Massachusetts Medical School in Worcester.
The capital funding is for the $400 million, 500,000-square-foot Albert "Albie" Sherman Center.
Ground was broken on the Sherman Center Sept. 17. The facility will house the school's Advanced Therapeutics Cluster, including the RNAi Institute, the Center for Stem Cell Biology and Regenerative Medicine, the Gene Therapy Center, the Department of Quantitative Health Sciences and the Center for Experiential Learning and Simulation.
The facility is expected to be LEED Silver certified and is expected to be complete in 2012.
Susan Windham-Bannister, president and CEO of the Life Sciences Center, said in a press release that the Sherman Center "will attract top scientists to Massachusetts, and the research conducted there will lead to the creation of new companies and new jobs throughout the Massachusetts economy."
The Life Sciences Center is charged with administering the state's $1 billion, 10-year Life Sciences Initiative, a drive to invest in life sciences research, development and commercialization.
The construction of the Sherman Center is expected to support 6,000 jobs and generate more than $760 million in statewide economic activity during construction, according to the University of Massachusetts Donahue Institute.
When fully operational, the center is projected to support 1,600 jobs and $264 million in annual economic activity throughout the state.
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