The NH House overwhelmingly approved SB 564 that will help jump start the emerging tissue regeneration industry here.
Industrialist Dean Kamen of Manchester is leading the effort to bring this industry to the Granite State and the NH House Ways and Means Committee spoke to the importance of this bill on April 26.
On the floor, I spoke specifically how this will improve employment opportunities, encourage scientific and technologically trained people to live in New Hampshire and grow our economy. Some believe this has the potential to make NH the world leader in providing tissue regenerated from our own DNA.
In my remarks I said there are advantages to the entire state of New Hampshire by passing this bill and making us the hub of regenerative medicine.
Our employment rate is stuck at an all-time low as our population ages, hampering our state’s effort at growth and economic expansion. New job training and career opportunities from this project will jump-start job growth. Our state is poised to enjoy a major renaissance.
Job creation will bring skilled and talented people to New Hampshire, and enhance the educational and career opportunities of current residents. That brings new homeowners, renters and customers for current in-state businesses. This growth won’t be limited to Manchester, but will be felt statewide as employees and firms spread in all directions within the state. Given the high value per weight of the products of this technology, some manufacturing facilities and auxiliary services are likely to move to the farthest corners of the state for lower housing and labor costs and for the attractions of rural life.
Because of the likelihood of corporate donations and payment of property and other taxes by the new firms and employees, we expect little or no negative impact on future budgets, and we hope you will join us in assuring our state’s future prosperity.