Joan Hartley

Hartley Leads Passage of Bill to Allow for More Targeted Investments in Connecticut’s Growing Bioscience Industry

SB 962 establishes clear metrics to measure the effectiveness of state dollars used to grow bioscience and precision medicine

Senator Joan Hartley (D-Waterbury) today led the unanimous, bipartisan Senate passage of legislation that will improve Connecticut’s ability to make targeted investments aimed at encouraging growth and job creation in bioscience and precision medicine. Senate Bill 962 calls for metrics to be developed by a private vendor that will help the state measure the impact of its investments. These metrics will be used by Connecticut Innovations to vet bioscience proposals.

“Bioscience and precision medicine are growing rapidly in Connecticut, and we need to be able to move nimbly and make smart investment decisions in order to ensure that this growth continues,” said Senator Hartley, Co-Chair of the Commerce Committee. “We need to ensure that this finite pool of funds is used most effectively in order to ensure the maximum economic impact and job growth. This bill is a critical part of Connecticut’s economic strategy, positioning Connecticut to grow its bioscience sector.”

Senate Bill 962 will establish clear metrics to measure the effectiveness of state dollars being used to support the bioscience and precision medicine sector. These metrics will detail the economic outcomes of state investments, including job creation and multiplier effects.

A 2015 economic competitiveness diagnostic of Connecticut found that the state has great assets and economic drivers in research and development, bioscience and health data. In response to those findings, Senator Hartley and her colleagues on the legislature’s Commerce Committee have worked with stakeholders to develop and pass legislation encouraging further development in these areas. As this industry grows, it is critical that the state know how to best target its financial support in order to ensure maximum job growth and economic impact. Once implemented, Senate Bill 962 will give the state a more accurate picture of industry trends, allowing the Department of Economic and Community Development and its other partners to better target state resources.

Now that Senate Bill 962 has passed the Senate, it moves to the House of Representatives for further consideration.