Thursday, June 28, 2007
Michael Shore, MEDC
Focus on “Bioeconomy” R&D and Commercialization
Pfizer announced in January that it would close several of its facilities throughout the state as a cost-cutting measure. Establishment of an institute in Holland to advance the bioeconomy, defined as an economy where the basic building blocks for industry and the raw materials for energy are derived from plant/crop (renewable) sources, is part of a concerted effort to reutilize those facilities and motivate Pfizer scientists to continue working and living in Michigan.
Lakeshore Advantage Corporation, a regional economic development agency and MEDC partner serving the Holland-Zeeland area, was selected through a competitive RFP (request for proposals) process to provide administrative support for the initiative.
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