Study recommends Oklahoma invest in bioscience industry

Sunday, September 11th 2005, 6:41 am
By: News On 6

OKLAHOMA CITY (AP) -- A study of Oklahoma's bioscience industry concludes that the state should invest hundreds of millions of dollars in research and new research-based startup companies.

The study recommends 14 actions that Oklahoma should take to grow the state's bioscience industry. They include creation of a $250-million opportunity fund to support bioscience research and a smaller fund to seed startup companies.

The study says the state can create 7,000 new high-paying jobs and almost 90 new businesses over the next decade.

But the plan's backers face a challenge in creating the fund. The Oklahoma Center for Advancement of Science and Technology asked the state Legislature to more than double its $11.6-million budget this year. Lawmakers provided only $700,000.