BIO BUZZ: Massachusetts' Patrick Picks Up 'Governor of the Year' Honor at BIO 2008

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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Massachusetts Gov. Duval Patrick (D-Mass.) was named the 2008 BIO Governor of the Year on Tuesday in San Diego at the 2008 BIO conference currently under way through June 20, 2008. The award was presented at Tuesday's keynote luncheon, with its theme of "Biotechnology: The Role of Government in Facilitating Research and Discovery in 2009 and Beyond" and moderated by Fox Network anchor Neil Cavuto. Patrick was honored for his commitment to promoting life sciences in his state, most recently for the implementation of a $1 billion Life Sciences Initiative.

Patrick's bill provides $250 million in tax incentives, $250 million in grants and $500 million for facilities, a large portion of which will be distributed throughout the state university system. The bill will only serve to enhance Massachusetts' current reign as one of the country's top locations for consistent capital investment into the construction and expansion of research and production facilities. The state currently has over $5.5 billion divided among 42 active capital projects in various stages of development. The largest and perhaps Massachusetts' biggest coup to date, is Bristol-Myers Squibb's (NYSE:BMS) (New York, New York) massive biologics plant now under construction in Devens, a project that could top $1 billion in total investment value (TIV).

Click on the image at right to view a listing of active Pharma-Biotech Industry Projects in Massachusetts.

Sharing the stage with Patrick at the event was former Florida Gov. Jeb Bush (R-Fla.), himself the winner of the 2006 BIO Governor of the year award. Bush was extremely progressive during his years in office, positioning Florida as a major player in the life sciences. That state has managed to attract 49 active projects with a TIV of $2.4 billion. Underscoring the power of the state's determination to attract and secure new capital investment in a given sector, was Florida's baffling success in convincing Oregon Health Sciences University to construct a $75 million Vaccine and Gene Therapy Research Institute in Port Saint Lucie. It would be safe to assume there will not be many commuter students making the 2,500+ mile trek from Oregon when the Institute opens in 2010.

There was an opening ceremony to the luncheon that while abbreviated in length, was huge in terms of industry importance. The 10th annual Biotechnology Heritage Award was bestowed upon Henri A. Termeer, Chairman, President and CEO of Genzyme Corporation (NASDAQ:GENZ) (Cambridge, Massachusetts). Revered among his peers for his business acumen as well as dedication to humanitarian assistance, Termeer serves on a number of boards, including Harvard Medical School and Project HOPE, an international nonprofit health-education and assistance organization. During his brief acceptance speech, Termeer, whose company is a pioneer in the treatment of rare genetic disorders and now has a wide array of therapeutics, said, "...I have had great fun over the past 25 years, and I look forward to another 25 of more fun and moving forward to a time when there are more cures for more people..."

Genzyme is in a period of active physical growth, with more than $900 million in capital projects in various stages of development. Five projects in the U.S. to expand both manufacturing and research total $630 million, and another is in France ($200 million) and Ireland has one with a TIV of $200 million. In 2007, Genzyme was chosen to receive the National Medal of Technology, the highest honor awarded by the President of the United States for technological innovation.

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