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Oregon bioscience development forecast: Back to reality

April 20, 2007 /

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Tax dollars – Big money spent on buildings and recruitment is paying off, but not in biotech startups, OHSU’s new chief says

Oregon Health & Science University has backed away from the economic development projections that it sold to legislators between 2001 and 2003 when seeking $200 million to build a bioscience research building and recruit scientists.

The fountain of new companies, jobs and tax revenue that was supposed to flow from taxpayers’ investment has not materialized as rapidly as envisioned. And OHSU’s new president, Joseph Robertson, acknowledges that the university’s projections were "optimistic" and "exuberant."

Full Story: http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/1176533771117360.xml&coll=7

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