HF 618

1st Engrossment - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; appropriating money for bioscience business
development programs.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin APPROPRIATION FOR BIOSCIENCE BUSINESS INITIATIVES.
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new text begin $2,200,000 is appropriated in fiscal year 2008 from the general fund to the
commissioner of employment and economic development for a grant to BioBusiness
Alliance of Minnesota for bioscience business development programs to promote and
position the state as a global leader in bioscience business activities. Funds appropriated
under this section may be used for:
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new text begin (1) completion and periodic updating of a statewide bioscience business industry
assessment of business technology enterprises and Minnesota's competitive position
employing annual updates to federal industry classification data;
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new text begin (2) long-term strategic planning that includes projections of market changes
resulting from developments in biotechnology and the development of 20-year goals,
strategies and identified objectives for renewable energy, medical devices, biopharma, and
biologics business development in Minnesota;
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new text begin (3) the design and construction of a Minnesota focused bioscience business model to
test competing strategies and scenarios, evaluate options, and forecast outcomes; and
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new text begin (4) creation of a bioscience business resources network that includes development
of a statewide bioscience business economic development framework to encourage
bioscience business development and encourage spin-off activities, attract bioscience
business location or expansion in Minnesota, and establish a local capability to support
strategic system level planning for industry, government, and academia.
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new text begin This appropriation is available until June 30, 2009.
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