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The life sciences enjoy continued success in Connecticut. Recently, the Constitution State earmarked $100 million in public funds for stem cell research. Additionally, Connecticut offers a unique "bioscience cluster" known as CURE (Connecticut United for Research Excellence), which serves as a support network for educational and business institutions promoting bioscience in the state. The industry benefits from the Connecticut Office of Bioscience, operated within the Department of Economic and Community Development, which is devoted to providing business development assistance to bioscience companies. Connecticut offers the R&D Tax Credit Exchange Program for companies with $70 million or less in annual revenues, with redemption of unused tax credits to the state; this encourages start-up development.
Connecticut bioscience operations include: Bristol-Myers Squibb, which operates a facility in Wallingford with over 1000 employees; Bayer Research Center in West Haven; Boehringer Ingelheim in Ridgefield; Pfizer Global Research & Development (PGRD) headquarters in New London; Achillon Pharmaceuticals in New Haven; Rib-X Pharmaceuticals in New Haven; Genaissance Pharmaceuticals in New Haven; and many other promising biotech companies.
Impressive academic institutions provide a backbone for biotechnology and life science research in the Constitution State. The University of Connecticut established the University of Connecticut Biotechnology Center to provide facilities and other resources for academic and industrial users. Yale University offers the Yale Office of Cooperative Research with the goal of facilitating development for innovative products in bioscience. With such advanced centers for higher learning, Connecticut promises a successful future for the biotechnology and life sciences industry.
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