The State Bond Commission has approved $291 million in borrowing over the next decade for a proposed research laboratory to be built at the University of Connecticut Health Center in Farmington, The Associated Press reports.
The Maine-based Jackson Laboratory is building the $1.1 billion facility. Under the deal approved Monday, the state is providing $192 million in loans that will be forgiven once Jackson creates and retains 300 jobs by the 10th year.
Two Republican commission members opposed the measure, questioning whether it makes sense for the state to make such a large investment in a private project. State Sen. Andrew Roraback estimated the state is spending about $3 million for each scientist who will work at the facility.
But Gov. Dannel P. Malloy said the state is growing the bio-science industry in Connecticut.
