The draft 2004 Legislative and Administrative Policy proposal includes $112 million to assist in the development of facilities to support the growth of the industry. The facilities development money is part of a $434-million package that includes $234 million in bonding requests and guarantees up to $200 million in venture capital investments in local biosciences companies by the state's pension board. Private investors must match on a dollar-for-dollar basis the $200 million invested by the State Board of Investment, the state's pension board.
Among the development-related requests are:
* A new $40-million genomics research facility for the Mayo Clinic and $70 million to fund genomics research projects over the next five years.
* $30 million to build a biomanufacturing facility for the University of Minnesota.
* $37 million to launch biosciences zones in St. Paul ($20 million), Minneapolis ($9 million) and Rochester ($8 million). The money would be used for land acquisition or to build infrastructure.
* $5 million for the University Enterprise Labs' biosciences incubator facility to be outfitted inside a vacant 132,000-sf building in St. Paul's Westgate office-industrial park owned by the City of St. Paul.
Gov. Pawlenty may include some or all of the recommendations in his budget and bonding proposals to the upcoming session of the Minnesota Legislature.
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