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Monday, January 30, 2012

Malloy Gets Final Approval for Jackson Lab Investment

By Keith M. Phaneuf

Gov. Dannel P. Malloy today secured Connecticut’s investment in a major genetic research initiative—but not before one more partisan debate.

The State Bond Commission voted 8-2 to release $291 million, which will pay to build a new 173,000-square-foot research center for The Jackson Laboratory on the University of Connecticut Health Center campus in Farmington. The funds also will provide equipment and furniture for the facility, and will subsidize roughly one-third of operating costs for the next decade.

Financed over years, the $291 million investment will cost the state another $153 million in interest charges, according to a projection from nonpartisan legislative analysts.

The project had been identified and developed by the administration, and the General Assembly granted preliminary approval for the financing during a special session in late October.

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Posted 01/30/12 at 10:19 PM  Permalink


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