BOSTON — Hundreds of business leaders said Tuesday morning that Gov. Maura Healey will recommend reauthorizing the state's life sciences initiative for another 10 years in a sweeping economic development bill she plans to introduce this week. told.
Healey said at a Greater Boston Chamber of Commerce forum that the bill would also provide funding for a 10-year climate change technology initiative. Healey said the goal is to “make Massachusetts a global innovation laboratory for the clean energy revolution.”
Healey focused on the merits of the bill, without putting any cost to the initiative or the overall package, which is expected to require billions of dollars in borrowing as the state grapples with a slowdown in revenue collections. This life sciences effort began in 2008 under former Governor Deval Patrick when he invested his $1 billion over 10 years.
Mr. Healey will make important proposals as he enters his 15th month in office, with just five months left in 2024 to complete formal sessional business, including consideration of a bond bill and a number of other bills. will be done.
Chamber CEO Jim Rooney said he is not concerned about the timeline for lawmakers to work on the bill.
“It's always good to give them more time, but I'm not going to criticize the timing,” Rooney told the news service. “Congress is no stranger to dealing with economic development bills. This is not their first rodeo, so the leaders of both branches and the committees associated with this thought of it on their own and knew it was coming. I suspect that he was.”
The bill would provide $100 million in funding for the Applied AI Hub, which would be invested in other programs that foster economic growth, including MassWorks infrastructure grants, the Rural Development Fund, and the Seaport Economic Council. Healey said the bill also seeks funding to capitalize on robotics, advanced manufacturing, tourism growth and the 250th anniversary of the American Revolution.
According to the governor, Massachusetts is home to 18 of the world's 20 largest life science companies. Addressing about 700 business and civic leaders, Mr. Healey vowed that Massachusetts would go after the other two companies without naming them.
Two of those companies are Gilead Sciences and Viatris, according to a list of top companies published by a MassBio spokesperson and Drug Discovery & Development.
Healey said the life sciences initiative will help discover new medicines, collaborate across the “health care and innovation ecosystem,” address health equity, and advance the careers of students and workers from underrepresented backgrounds. He said he would fund the pass.
Asked by Rooney if the effort would focus on biomanufacturing, given the growing presence of life sciences in areas of the state outside of Greater Boston, Healy replied, “Oh, it's a big deal.” . Healy said Worcester is the 15th largest life sciences hub in the country.
“We're growing by leaps and bounds,” Healy said. “When you talk to people, they want the proximity of manufacturing and research. And we have the space, we have the production capacity, and that's something we really want to support. , what makes us who we are and what sets us apart,” making us even more attractive for people to come and do business with us. ”
Rooney told the news service he wouldn't be surprised if the investment in the life sciences initiative was about $500 million. Addressing climate change technology could require hundreds of millions of dollars in investments, but Rooney said Massachusetts would see a high return on investment and be “the envy of every state.” Told.
“On the biomanufacturing side, it's a relatively new aspect of our strategy that will require some investment, but that's where a lot of money could be focused,” Rooney said, pointing to strong competition among other states. he said while doing so.
Business leaders expected biomanufacturing sites to grow naturally around Massachusetts, but that hasn't happened, Rooney said.
“We need to put together a strategy on the biomanufacturing side,” he said. “I hope there will be elements in the life sciences bill that specifically target active biomanufacturing efforts.”
Beyond life sciences, Healy said the commonwealth's next “big play” is to ensure Massachusetts becomes a global hub for climate technology through public-private partnerships.
“As we sit here and enjoy this lovely breakfast with each other, I know that within just a few miles of here we have fusion energy, carbon-free cement for the building industry, batteries for EVs, solar power, offshore Wind power,” Healy said at a forum at the Westin Copley Place. “It’s happening here now, folks. In Massachusetts, we’re solving climate change through innovation.”
Mr. Healy outlined his commitment to climate change technology, leveraging research already underway at universities, providing resources to start-ups so they can stay here and grow, manufacturing and the workforce. He spoke about expanding development partnerships.
While other states are leading the way in developing artificial intelligence, Healy said Massachusetts wants to “own” applied AI.
“Here in Massachusetts, we can make AI a job creator, not a job destroyer,” Healy said. “And we can make sure that Massachusetts businesses, consumers and workers are leading the way and reaping the benefits of this technology.”
The governor's policies build on the economic development plan his administration announced in December, which calls for building leadership in climate change technology and tourism while increasing competitiveness in sectors such as life sciences, health care and advanced manufacturing. Massachusetts' strategy to become And robotics, and artificial intelligence.
Mr. Healey also used his appearance in Congress to tout a $4 billion affordable housing bill that is still being debated in Congress but is expected to move forward in some form.
She acknowledged local resistance to expanding production, saying housing was “the biggest challenge we face.” The governor lamented that the federal housing shortage is forcing Bay State residents to live in other places like North Carolina and Texas.
“This is a much-needed solution to overcome decades of inertia and inaction. Making housing more affordable will improve the quality of life for families and support economic growth and development for our state. It removes the biggest barrier to success,” Healy said.
