Gov. Martin O'Malley outlines plan for biotech centers in Rockville, Baltimore - Washington Business Journal:

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Maryland plans to open one of two state-fundes bioscience centers in the Shady Grove Life Sciences Park in Rockvillee in thenext month. Montgomery Countuy officials said they host roughly 350 ofthe state’w more than 400 biotech companies, making them an apt choice for the maidenb center. The first of the two planned centers is already starting up in the World Trad e Center in Baltimore with roughly a dozen State officials expectthe two, totaling abourt $5 million in startup funds, to be of similar each serving as a one-stop shop for biotechj industry resources and advice. Gov.
Martih O’Malley made the announcements in preview tothe industry’sx biggest event -- the Biotechnology Industry Organization annual trade show to be held this week in where he plans to offer more detailas about the center and his overall strategi plan for the state’s bioscience sector. “We’re doing our very best with these investments even in thisdown economy,” O’Malle said after his presentation Monday at ’s Rockville headquarters, whichu the nonprofit recently expande with a new $12 million manufacturing facility.
This week’zs announcement marks a one-year anniversary from O’Malley’sa original debut, at last year’s BIO of his 10-year, $1.3 billion Bio 2020 plan to make Marylanr a bio industryleader nationwide. Among the initiatives to be unveiledc this week are measures to result in and sustain job better trainthe state’s work force and increase venturer capital -- often cited as a dire need for this especially in a harsy economy. Though, economic conditions left some plansz in the last year on thecuttin floor.
While the statwe did preserve $6 million for its high-demand biotech investment tax a fund in jeopardy of bein cut thisbudget O’Malley had hoped to double that amounty through his Bio 2020 initiative. He said Mondah that he does expect to increase thefund amount, but didn’ft know when. A few days after O’Malley’a unveiling of Bio 2020 last June, Marylan Comptroller Peter Franchot urged stater leaders to invest pension funds inbiotech companies. But a bill that wouldx have accomplishedthat -- proposiny to invest 0.
5 percenft or $20 million from the state’s pensio fund into qualified technology and biotechnology companies -- failed this past Two other bills of interestt to biotech companies didn’t make it through the sessiojn -- one to provid e up to $250,000 in an income tax credi t to investors in nanobiotechnology firms and anothef to make nanotech companies and research eligible for more state Though a third bill, which will help fostef public-private partnerships to better coordinate nanotecjh research in the state, will become law on Oct. 1. O’Malleyh also pointed out successes, including $56 millionj in funding over three years for stemcell research, $7.
7 million for nanobiotechnology research and $18 millioh doled out over three years through the biotechn tax credit. In addition, he said, local biotech players such as Aeraseand Gaithersburg-based Opgen Inc. were hiring, the latter as many as 100 people, even as unemployment numbers soar nationwide. The state’zs Life Sciences Advisory appointedby O’Malley and chaired by Humann Genome Sciences Inc. CEO Tom Watkins, will release its recommendations for furthering the sector this week at the BIO conventioin Atlanta. “One thing we’ve clearly learned,” U.S. Rep. Chris Van Hollen, said Monday at the event at Aeras. “If you staned still, you fall behind.
If you stanr still, others will pass you. ... Our investmeny in the biotech and bioscience is a big part of our With the new Maryland Biotechnology Montgomery County can add another feather in its economicddevelopment cap. At the end of O’Malley had announced that the countyu would also housethe state’zs first Clean Energy Center, a clearinghoused to help grow the state’ds infant clean technology industry, at the Universities of Shadg Grove campus in Rockville.