Report hails Mass. biotech spending as job creator
The Boston Globe - 03/26/2013
Northeastern University economists Barry Bluestone and Alan Clayton-Matthews, who wrote the report, noted the Massachusetts approach has focused on building an “ecosystem” of start-ups that can work with the state’s research universities and teaching hospitals.
They said the $300 million spent by the state so far has spurred more than $1 billion in spending by private companies. Those businesses include eight of the world’s 10 largest pharmaceutical companies that have set up shop in the state — and created thousands of additional jobs — to buy what Bluestone calls “a front row seat” in the arena of cutting-edge biomedical research.
“Here is a sector that grew right through the recession,” Bluestone, the director of Northeastern’s Dukakis Center for Urban and Regional Policy, said in an interview.