Biotech News - Arizona Legislature OKs $35 million for biotech

Arizona Legislature OKs $35 million for biotech

The Business Journal of Phoenix - June 21, 2006

The Arizona Legislature has given the green light to a controversial
biotechnology incentive fund aimed at attracting more research and
science-related jobs to the state.

The Arizona House of Representatives gave the final sign-off on the
bill late Tuesday by a 41-to-15 vote.

Supporters included moderate Republicans and Democrats, while a
number of conservatives voted against the measure questioning how
the money will be used and whether the state should be giving
incentives to businesses and investing in the risky biotech sector.

The approved plan puts $35 million toward the Arizona 21st Century
Competitive Initiative Fund, aimed at helping to attract
biotechnology to the state.

http://washington.bizjournals.com/phoenix/stories/2006/06/19/daily28.
html

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