Washington Gov. Gregoire seeks $350 million biotech fund

Gov. Christine Gregoire, in her first major initiative to boost Washington’s economy, is pushing to create a $350 million Life Sciences Discovery Fund to bankroll biomedical research in the state.

Gregoire, who made the idea a key part of her campaign’s job-creation strategy, is hoping to build momentum for the plan, beginning with a news conference in Olympia tomorrow. By attracting matching private money and federal grants, backers say the total financing resulting from the fund could reach $1 billion.

Though Gregoire’s proposal was criticized by Republican gubernatorial rival Dino Rossi during the campaign, it has attracted backing from key leaders in both political parties.

By Luke Timmerman

Seattle Times business reporter

(Many thanks to Jeff Heutmaker http://www.heutmakerlaw.com/ for passing this along. Russ)

Full Story: http://seattletimes.nwsource.com/html/businesstechnology/2002167797_lifesciences02.html