State Grants $9.7M For PEDA Life Sciences Center
 PEDA and city officials are hoping the innovation center will spark a new industry on the former GE property. |
PITTSFIELD, Mass. — The state has allocated $9.7 million to build a life sciences center at the William Stanley Business Park.
The grant will allow the construction of a 20,000-square-foot center for companies in the early stages of production and commercialization to share space. The grant was announced Tuesday by Gov. Deval Patrick and the state Life Science Center for the land overseen by the Pittsfield Economic Development Authority.
"I am thrilled, because we have been diligently, deliberately and systematically pursuing this fabulous award for more than two years — with support and direction from the PEDA Board, City Hall and MLSC staff," said Corydon Thurston, PEDA executive director, in a prepared statement. "This is a new and unique economic engine for Pittsfield and the Berkshires, one that provides an exciting opportunity to create jobs by enabling existing businesses and mentoring new startup companies."
The award includes $2 million for equipment including "state of the art" tools for measurements, microscopy and 3D printing. The construction and design is expected to cost $7.25 million.
The facility will assist start-up businesses and the operating budget will be funded through membership, usage fees and rental income from labs, clean rooms and offices. PEDA says it has commitments from 19 private-sector companies and five institutions to use the space.
"The PEDA board has been supportive throughout this process because the William Stanley Business Park is an absolutely perfect location for this investment," said Mick Callahan, PEDA board chairman. "This successful collaboration is a fine example of our region working together towards building the foundation for a new economy."
A new nonprofit corporation will be formed with its own board of directors to oversee the facility. That group will be selecting the architect and planning the groundbreaking. PEDA hopes to begin construction in summer 2015.
"We are especially grateful for the patient and thoughtful guidance of Dr. Susan Windham-Bannister, MLSC president and CEO," Thurston said, "and for the outstanding work of our consultant Rod Jané, NEES president, who helped develop the sustainable business plan that secured this grant."
PEDA was granted $55,000 last year to begin feasibility studies for the project; $6.5 million had been earmarked for the project once the studies were completed.
The state Life Sciences Center was created in 2008 by an act of the Legislature with the mission to implement a 10-year, $1 billion initiative to create jobs and support research.
PEDA is tasked with marketing the 52-acre William Stanley Business Park, General Electric Co.'s former industrial facility.
Tags: business park, life sciences, PEDA,
