Economic Development Futures Journal

Friday, January 02, 2004

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Biosciences Gets New Push in Minnesota

Minnesota Gov. Tim Pawlenty wants Minnesota to grow into a biotechnology powerhouse, so he designated 1,500 acres as the main fields in which those scientific seeds could bloom.

Minneapolis, St. Paul and Rochester will each have about 500 acres in new bioscience zones, which are meant to encourage new businesses or expansions. Biotechnology and health companies in the zones will enjoy a menu of tax incentives.

The land was chosen for several reasons, but primarily because of its proximity to the University of Minnesota, the Mayo Clinic and other established health care institutions. The university and Mayo, the state's leading research institutions, forged a bioscience alliance in April.

The cities were the only three eligible for the zones. The bioscience zones are similar to the Job Opportunity Building Zones, which were announced for more than 300 outstate Minnesota cities last week. In those, companies can earn tax breaks for adding jobs.

Biosciences include molecular biology, genomics and agriculture processing, among many other fields. Research in those areas can yield ways to combat cancer and heart disease, confront bioterrorism and ensure food safety.

Go here to read more.

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