In case you missed it, the Boston Herald today ran a story highlighting how the Biotech Bill which was sold as a way to create jobs has failed to deliver on that promise. In fact, as the Boston Herald points out, two of the companies to receive aid, Biogen and Genzyme, both recently let go several hundred employees.
According to the report, “This year, Weston-based Biogen committed to creating 50 jobs in exchange for its $1.5 million tax break, but it is unclear whether the firm can meet that goal after last week’s announcement of 86 layoffs in the Bay State.”
The Herald also reports, “Genzyme similarly promised to create 200 Bay State jobs for its $6 million tax credit, but the firm claims it can still meet that goal even as it laid off 127 workers in the Bay State, with plans to leave open another 58 positions.”
Governor Patrick and his Administration made big promises with regard to the life sciences industry; however the results have been minimal. We agree that as a state we must promote sound fiscal policies and provide a climate for economic growth, but Governor Patrick needs to focus on all industries not just the ones who back his agenda.
It is past time for the Legislature and the Governor to implement policies that will foster economic recovery. The House Republican Caucus has been pushing these principles for several legislative sessions. The upcoming session will be no different as we intend to file a number of initiatives that will encourage, not dissuade, businesses from opening up shop here in the Commonwealth.