North­eastern Uni­ver­sity econ­o­mists Barry Blue­stone and Alan Clayton-​​Matthews, who wrote the report, noted the Mass­a­chu­setts approach has focused on building an “ecosystem” of start-​​ups that can work with the state’s research uni­ver­si­ties and teaching hospitals.

They said the $300 mil­lion spent by the state so far has spurred more than $1 bil­lion in spending by pri­vate com­pa­nies. Those busi­nesses include eight of the world’s 10 largest phar­ma­ceu­tical com­pa­nies that have set up shop in the state — and cre­ated thou­sands of addi­tional jobs — to buy what Blue­stone calls “a front row seat” in the arena­ of cutting-​​edge bio­med­ical research.

Here is a sector that grew right through the reces­sion,” Blue­stone, the director of Northeastern’s Dukakis Center for Urban and Regional Policy, said in an interview.

Read the article at The Boston Globe →