AT PhRMA, GOVERNOR PATRICK HIGHLIGHTS GROWTH STRATEGY TO HELP LIFE SCIENCES INDUSTRY THRIVE
Governor promotes region as a global, life sciences supercluster
Thursday, April 12, 2012 - Governor Patrick offers remarks at the Pharmaceutical Research and Manufacturers of America’s annual meeting.
(Photo: Scott Eisen/Governor's Office). View additional photos.
BOSTON – Wednesday, April 12, 2012 – Governor Deval Patrick today addressed the Pharmaceutical Research and Manufacturers of America (PhRMA) 2012 annual meeting in Boston, discussing the Patrick-Murray Administration’s $1 billion investment in life sciences and the growth strategies that will continue to make Massachusetts a world leader in the pharmaceutical and life sciences industry.
“The pharmaceutical industry is a critical piece of our innovation economy here in Massachusetts,” said Governor Patrick. “We are committed to working with groups like PhRMA to grow our innovation economy here in the Commonwealth to provide jobs and opportunities for generations to come.”
The Patrick-Murray Administration has prioritized investing in the life sciences and the innovation economy, even during the economic downturn. In 2008, Governor Patrick signed a 10-year, $1 billion investment package to strengthen the state’s global leadership in the life sciences. The initiative melds all of the state’s key resources in order to spur research, investment, innovation and commercialization. Now, the life sciences industry in Massachusetts is thriving with more than 52 percent job growth since 2001 and more than 48,000 added jobs.
Additionally, the Commonwealth is number one in life sciences construction, with 3.5 million square feet of new space either under or slated for construction this year, including Vertex Pharmaceuticals’ new 1.1 million square foot headquarters in Boston, currently the nation’s largest private construction project. Later today, Governor Patrick will attend a groundbreaking for Novartis’ campus expansion in Cambridge which will result in 300 additional jobs.
“Pharmaceutical companies are an important part of our life sciences supercluster in Massachusetts, and many of the biggest global companies in this sector, such as Sanofi, Novartis and Shire, are choosing Massachusetts as the right place to expand and invest,” said Susan Windham-Bannister, president & CEO of the Massachusetts Life Sciences Center. “Through the center’s investments we are making Massachusetts an even more attractive place for these companies to expand, creating jobs while advancing new treatments that will improve patient care.”
Since 2008, the Massachusetts Life Sciences Center has invested more than $265 million in state resources, generating more than $800 million in outside investment and creating thousands of jobs. For every $1 of taxpayer money invested by the center, Massachusetts attracts more than $3 in additional outside investment to create a public-private investment fund of more than $1 billion for the state’s life sciences supercluster.
PhRMA’s annual meeting focused on the stories of the patients helped by the medicines researched and developed by PhRMA member companies, scientific breakthroughs and new health technologies pioneered by PhRMA member company researches and the economic impact of the biopharmaceutical research industry.
To learn more about the Massachusetts Life Sciences Initiative please visit: http://masslifesciences.com/.