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Malloy Proposes $200 Million Bioscience Investment Fund

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Laboratory equipment (Philippe Huguen/AFP/Getty Images)

Laboratory equipment (Philippe Huguen/AFP/Getty Images)

FARMINGTON, Conn. (AP) _ Connecticut Gov. Dannel P. Malloy is proposing a new $200 million fund to help attract and invest in more bioscience companies to the state.

The Democrat made the announcement on Thursday during a groundbreaking ceremony for The Jackson Laboratory for Genomic Medicine, which is being built on the grounds of the University of Connecticut Health Center.

Malloy said the new bioscience fund will be part of his two-year state budget proposal, to be presented to the General Assembly on Feb. 6.

Malloy’s plan calls for doling out the money over 10 years. His office said an advisory board will provide oversight and the funding will be subjected to a vetting process.

(© Copyright 2013 The Associated Press. All Rights Reserved. )

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