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Life Sciences
The life-sciences cluster in Massachusetts has major strengths, but competing states are currently better organized to support biotech economic development. An analysis by the Mass Biotechnology Council (See Attached) of 134 human-therapeutics companies (either based in Massachusetts or with facilities here) demonstrates that the further one goes down the value chain from research, the less likely companies are to locate activity in the state. We need to extend the local biotechnology industry from its strong base in research to activities further down the value chain, such as development and manufacturing.
MassBioTech2010 Full Report -
UI Rate Freeze
The UI Trust Fund is projected to have over $1.1 billion at the end of this year, and, if rates are frozen for 2008 - the fund balance will grow to nearly $1.4 billion - a very healthy fund balance. For 2008 and the next several years, the forecast shows marginal fluctuations in unemployment rates around the 2007 level - nothing that would result in heavy outflows from the UI Trust Fund. UI is not purely a cost to employers and a benefit to employees. The costs of labor ultimately fall on labor. Employers initially pay for cost increases such as higher UI rates, but these roll into the wage structure over time.
Unnecessarily high UI rates benefit neither labor nor employers. High rates do not increase UI benefits, nor make them more secure (no eligible unemployed worker has ever lost benefits). But they do impose costs on working people by reducing their paychecks, in two ways. Directly, they raise employers' costs and reduce profits, making them less willing and less able to raise wages. Indirectly, they weaken the local economy and labor market, reducing the number of new (and potentially of existing) jobs.
We now face an economic climate marked by a weak labor market and significant financial pressure on households - both conditions that will only be worsened by higher UI rates. The economy will be better off if Massachusetts avoids increasing this burden unnecessarily.
The MetroWest Chamber urges members to contact state elected
officials immediately to urge them to act on UI rate freeze
bill now pending.
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Using venture world's lessons to battle Alzheimer's
Aug 30, 2010 — The Boston Globe -
Health care, job engine for state, is pulling back
Aug 29, 2010 — The Boston Globe -
Biotechs watching Sanofi bid
Aug 27, 2010 — Boston Herald
