$350 million Washington state fund to finance life-sciences research is being "nudged" already

The $350 million state fund to finance life-sciences research is just getting organized and won’t begin distributing public money until 2008, but it’s already under pressure to deliver.

Gov. Christine Gregoire, who pitched the fund to the Legislature as one of her main economic-development initiatives, said Washington’s life-sciences industry needs to show average citizens "there is something in it for them," or risk losing legislative support for the spending.

If people aren’t convinced of the potential health and economic payoff, the Legislature "could take the money and use it for something else," Gregoire told about 540 members of the Washington Biotechnology and Biomedical Association (WBBA) at its annual meeting Tuesday morning.

By Benjamin J. Romano

Seattle Times business reporter

Full Story: http://seattletimes.nwsource.com/html/businesstechnology/2002598526_lifesciencefund02.html