Speaker Shekarchi joins Governor in announcement of Steinberg as chair of new Life Science Hub
Speaker of the House K. Joseph Shekarchi (D-Dist. 23, Warwick) joined Gov. Dan McKee today as he announced that he is appointing Neil Steinberg to chair of the board of the new Rhode Island Life Science Hub. The two were joined by jRhode Island Commerce Secretary Liz Tanner.
“I applaud Governor McKee for making the outstanding selection of Neil Steinberg as chairman of the Rhode Island Life Sciences Hub,” said Speaker Shekarchi. “We are fortunate to have someone as dynamic as Neil, who possesses all the skills we need as board chair. This is a pivotal position in guiding the state’s growth and development in the bioscience arena. Neil has an extensive professional network and he is committed to building a strong economic future for the bioscience sector in our state.”
Created in the FY24 RI Ready budget, the Rhode Island Life Science Hub will be the central entity and coordinating organization of life science initiatives on behalf of the State of Rhode Island. In addition to this new public body, the FY24 budget also includes Governor’s McKee’s proposal to invest $45 million in the life science sector for the development of much-needed wet lab incubator spaces. These funds would also be used to support grants, loans, business development and incubation services to grow this sector.
“I want to thank the Governor for his commitment and leadership, along with Speaker Shekarchi, in creating the Rhode Island Life Science Hub and providing the initial $45 million to fund this exciting initiative. There is a great deal of potential here. Utilizing my experience, network, and leadership we will work collaboratively and inclusively to grow and build this sector in Rhode Island,” said Neil Steinberg.
As Chair of the Rhode Island Life Science Hub, Steinberg would lead a board of 15 individuals with experience in health care, higher education, business, economic development and more. It is also anticipated that the Board will hire a senior level executive to lead the day-to-day operations.
The Rhode Island Life Science Hub will also facilitate the development of medical advances and scientific breakthroughs with companies who specialize in the fields of medical devices, biomedical technology, medical therapeutic therapies, biogenetics, biomedical engineering, biopharmaceuticals, genomics and life sciences. Through targeted investments of grants, tax credits, and incentives, the Rhode Island Life Science Hub will fund and incubate Rhode Island-based life science companies that will promote economic and workforce development within the state and allow Rhode Island to successfully compete on the national and international level.