Doylestown, PA – Today, Governor Josh Shapiro and Department of Community and Economic Development Acting Secretary Rick Siger visited the Pennsylvania Biotechnology Center in Doylestown to speak with leaders in Pennsylvania’s growing innovation economy and discuss the Shapiro Administration’s plan to support their continued success.
The Shapiro Administration is focused on making Pennsylvania a national and global leader in innovation industries – like biotechnology – and in his first budget, Governor Shapiro proposed a significant downpayment in economic development, increasing funding for key incentive programs and initiatives that fund innovation, STEM education, and workforce development. From day one, Governor Shapiro has been working to break down barriers for companies looking to expand, and he created the Office of Transformation and Opportunity that is cutting through the red tape to get businesses answers in a timely fashion.
“The Pennsylvania Biotechnology Center has turned investments from the Commonwealth into a state-of-the-art space that gives emerging biotech companies the support they need to do cutting-edge research that will go on to save lives,” said Governor Josh Shapiro. “They’ve recruited companies from all over the country to move to Pennsylvania, and my Administration is committed to partnering with them to support that growth and make the Commonwealth a leader in biotechnology. Pennsylvania is open for business and my Administration will connect the dots so that we can support the innovation and job creation occurring right here in Bucks County and continue to foster it all across the Commonwealth.”
The Pennsylvania Biotechnology Center has received over $11 million from the Commonwealth – including a $5 million grant from the Department of Health, $4.4 million for the center’s expansion, a $1.5 million RACP grant, and a $430,000 grant through the COVID-19 Vaccines, Treatments and Therapies program in 2020 – to help the center support early stage biotechnology and life sciences companies. These grants helped the center fund its most recent renovation to create a new space to help future biotechnology entrepreneurs have a space to innovate and work on new therapeutics and diagnostics discovery science.
Governor Shapiro’s budget proposal makes a significant down payment to spur economic innovation and attract new talent, including:
- A 50 percent increase for the Manufacturing Innovation Program, which connects our businesses with cutting edge research by Pennsylvania’s university students to spur innovation and job creation.
- A 25 percent increase in the PA Smart Program so students who are looking to continue on to higher education in a computer science or STEM program can do that.
- A $12 million increase for the Pennsylvania First Program to fund more expansion projects and bring future business investments and high paying jobs to the Commonwealth.
Learn more about Governor Shapiro’s comprehensive approach to making sure Pennsylvania is open for business here: shapirobudget.pa.gov/.
###