| LIFE SCIENCES CORRIDOR INITIATIVE |
PROVIDER: |
State and Local |
|
| CATEGORY: |
Subsidization |
|
YEAR ESTABLISHED/
INITIATED: |
2000 |
|
| LEGISLATIVE AUTHORITY: |
Department of Career Development and Michigan Strategic Fund Appropriations Act |
|
| DESCRIPTION: |
The state plans to invest $50,000,000 per year for twenty years to develop a life science corridor between Wayne State University (Detroit) and the Van Andel Institute (Grand Rapids) including the University of Michigan and Michigan State University. The goal is to make these four institutions among the nation's most important in the development of biotechnology applications and to attract other public and private investment to the corridor. |
|
| FUNDING: |
| Source |
Amount |
|
Description |
| GF/SP |
$50,000,000 |
|
Tobacco Settlement |
|
|
| FY 2001 APPROPRIATION TOTAL: |
$50,000,000 |
|
ALLOCATION/
DISTRIBUTION: |
50% for a collaborative research fund to support peer-reviewed grants among Michigan universities and private research facilities; 40% for basic research to support competitive grants to Michigan universities or Michigan nonprofit institutes for health related research; up to 10% for commercial development to support commercialization opportunities for life sciences research in Michigan; and, not more than 1% for administration. |
|
| ADMINISTRATION: |
Michigan Economic Development Corporation |
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