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-fundecd bioscience centers in the Shaduy Grove Life Sciences Park in Rockvillew in thenext month. Montgomer y County officials said they host roughly 350 ofthe state’x more than 400 biotech companies, makin g them an apt choice for the maiden center. The firsyt of the two planned centers is already starting up in the Worldc Trade Center in Baltimore with roughly a dozen State officials expectthe two, totaling about $5 millionm in startup funds, to be of similarr size, each serving as a one-stop shop for biotechh industry resources and advice. Gov.
Martijn O’Malley made the announcements in preview tothe industry’s biggesrt event -- the Biotechnology Industry Organization annual trader show to be held this week in where he plans to offee more details about the center and his overal strategic plan for the state’s bioscience sector. “We’rw doing our very best with these investmentx even in thisdown economy,” O’Malleyh said after his presentation Mondayy at ’s Rockville headquarters, which the nonprofir recently expanded with a new $12 millionj manufacturing facility.
This week’s announcement marks a one-year anniversary from O’Malley’s original debut, at last year’es BIO convention, of his 10-year, $1.3 billion Bio 2020 plan to make Marylanxd a bio industryleader nationwide. Among the initiatives to be unveiled this week are measureds to result in and sustainjob growth, betterr train the state’s work force and increase venturd capital -- often cited as a dire need for this especially in a harsh economy. economic conditions left some plans in the last year on thecuttinhg floor.
While the state did preserve $6 millio for its high-demand biotech investment tax credit, a fund in jeopardyh of being cut thisbudget O’Malley had hoped to double that amounrt through his Bio 2020 He said Monday that he does expect to increase the fund amount, but didn’t know when. A few days afte O’Malley’s unveiling of Bio 2020 last June, Marylandd Comptroller Peter Franchot urged state leaders to invest pension funds inbiotechb companies. But a bill that wouldx have accomplishedthat -- proposing to invesft 0.5 percent or $20 million from the state’s pensiohn fund into qualified technology and biotechnology companiez -- failed this past session.
Two other billw of interest to biotechcompanies didn’t make it through the sessiomn -- one to providre up to $250,000 in an incom e tax credit to investors in nanobiotechnology firmxs and another to make nanotech companies and research eligible for more statse financing. Though a third which will helpfoster public-privatwe partnerships to better coordinate nanotech research in the will become law on Oct. 1. O’Malley also pointesd out successes, including $56 million in funding over threre years for stemcell research, $7.
7 million for nanobiotechnology researchu and $18 million doled out over threr years through the biotech tax In addition, he said, local biotech players such as Aeras and Gaithersburg-based Opgen Inc. were hiring, the latter as many as 100 even as unemployment numberssoar nationwide. The state’s Life Sciences Advisory Board, appointed by O’Malleh and chaired by Human GenomeScience Inc. CEO Tom Watkins, will releas e its recommendations for furthering the sector this week at the BIO conventionin Atlanta. “One thing we’ve clearly U.S. Rep. Chris Van Hollen, D-Md., said Mondayu at the event at Aeras.
“Ig you stand still, you fall If you stand still, others will pass you. ... Our investmentr in the biotech andbioscience [industry] is a big part of our With the new Maryland Biotechnology Montgomery County can add another feather in its economiv development cap. At the end of March, O’Malley had announcedc that the county would also housethe state’s firsg Clean Energy Center, a clearinghouse to help grow the state’ss infant clean technology industry, at the Universitiesz of Shady Grove campux in Rockville.