- Associated Press - Tuesday, December 13, 2016

ALBANY, N.Y. (AP) - New York state is embarking on a new $650 million effort to expand life science industries.

Democratic Gov. Andrew Cuomo announced the initiative on Monday. It brings together $250 million in tax incentives for life science companies, $200 million in state funding for new laboratories and other business space, as well as money for start-up businesses and public-private partnerships.

Cuomo says the goal is to attract and retain life science companies in an effort to make New York state a global leader in biotechnology, pharmaceuticals and life science research and development.

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