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Michigan Life Sciences Corridor to get $30 Million Funding

NEW YORK, May 28 - The Michigan Life Sciences Corridor will receive $30 million in funding for 2004, according to a statement issued today by the office of Gov. Jennifer Granholm.

 

While the funding will be less than the $45 million originally earmarked for life sciences research and development in a corridor stretching from Detroit to Grand Rapids and Kalamazoo, it is not as small as the $20 million the governor had originally proposed in a budget-slashing response to the state's fiscal crisis.

 

The funds are being disbursed from $1 billion in tobacco settlement money.

 

The corridor is a 20-year initiative launched in 1999 to boost the state's life sciences industry.

 

Additionally, the Michigan Life Sciences Corridor steering committee authorized the creation of a $2 million emergency fund to assist Pfizer scientists and professionals, laid off after the company's acquisition of Pharmacia, to begin new business ventures.

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