Governor Rendell Says Life Science Industry Will Fuel New Breakthroughs, Generate Jobs for Decad...( Encourages Forum Attendees to Keep up...)

Encourages Forum Attendees to Keep up Fight, Restore U.S.'s Leadership

PHILADELPHIA, Dec. 15 /PRNewswire-USNewswire/ --Pennsylvania's commitment to developing and diversifying its biotechnology business sector has helped it to weather the economic downturn and set the stage for future opportunity and innovation, Governor Edward G. Rendell said today.

"In Pennsylvania, we recognize the economic potential of an innovation economy, and we are working hard to take advantage of our wealth of academic and research institutions and medical start-ups as an engine of job creation and economic development," Governor Rendell said today during a Best and Brightest forum here.

"We purposefully pinpointed the life sciences industry to be a key piece in Pennsylvania's strategic and economic growth. Our programs are directing support and funding for companies to expand, create jobs, and retain talented Pennsylvanians.

"We cannot give up on our efforts because the world looks to the United States to help it beat back famine and disease. The greatest scientists study here. Our commitment to medical innovation must continue," he said.

The Best and Brightest forums, being held around the country, focus on medical innovation and promote the critical need for the United States to maintain its status as a global leader in this area.

Governor Rendell said Pennsylvania was the only state to dedicate all of its tobacco settlement funds to health-related programs, making a multi-year commitment of $2 billion to the life sciences.

For example, the Life Sciences Greenhouse Initiative was created as part of a larger plan to ensure continued growth in the biosciences in Pennsylvania. In addition, more than $500 million in venture capital investment went to biotechnology, medical device and equipment companies. These venture capital inve
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