Once about Knowledge and knowledge systems, especially knowledge applied to economic development, but since I retired branching into politics, music and whatever catches my attention.
The BIO 2020 Initiative is a comprehensive, targeted plan to leverage Maryland’s science and technology assets and nationally acclaimed workforce to attract and grow the bioscience opportunities of tomorrow in Maryland. Governor Martin O'Malley.
The creation of the “Maryland Biotechnology Center” – a “one stop shop” to showcase and support biotechnology innovation and entrepreneurship in Maryland, and consolidate various State, academic and private sector ventures. The Center will bring together TEDCO’s tech transfer initiatives, DLLR’s industry regulatory functions and various UMD initiatives. Industry experts at the Center will build or expand the state’s relationship with federal labs, universities, and private sector companies.
Expanding and Improving Maryland’s Biotech Investment Tax Credit: Under the proposal, Maryland would double its Biotech Investment Tax Credit in FY 2010 and again by 2013, a move that would leverage almost $50 million in private investment for Maryland biotech companies each year. Currently, Maryland’s $6 million Biotech Investment Tax Credit is an effective and highly successful equity-building program that is usually exhausted within months of fund availability each year.
Growing Maryland’s Technology Incubator Network: Under Governor O’Malley’s proposal, Maryland will invest $60 million over the next ten years to leverage $120 million in private and federal investment funds and grow Maryland’s incubator network by 50%. A recent study found that there is a strong demand for additional space. Maryland’s incubators comprise more than 453,061 square feet, create more than 14,000 jobs, and provide $104 million in state and local taxes. Additional funds would help expand existing incubators, build new incubator sites, and provide related programs to help Maryland’s small technology companies take their ideas to market.
Continuing to Grow Maryland’s Nation-Leading Stem Cell Research Fund: The Maryland Stem Cell Research Fund was created in 2006 to promote state-funded stem cell research and cures through grants and loans to public and private entities in the State. Under the Governor’s proposal, Maryland will continue to invest in life-saving stem cell research. The Governor is proposing at least $20 million annually dedicated for this purpose. During the first two years of the O’Malley-Brown administration, the State has invested $42 million in stem cell research. To date, over $36 million and 86 research applications have been funded. The Fund is the third largest state funded program in the nation.
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