Overview

• Healey introduced the DRIVE (Discovery, Research and Innovation for a Vibrant Economy) bill on July 31 to offset cuts to federal R&D grants by the Trump administration.
• The plan allocates $200 million through MassDevelopment for hospitals, universities and independent research groups and earmarks $200 million from the millionaire’s tax to support public colleges.
• The legislation calls for a new 501(c)(3) Research Catalyst Fund overseen by a Research Opportunity Review Board to identify and back priority research projects.
• Healey issued an executive order to establish an Advisory Commission on Advancing Research and Discovery to advise on implementation and future investments.
• Massachusetts depends on $8.57 billion in annual federal R&D funding that supports over 81,000 jobs and $16 billion in economic activity, prompting higher-education leaders to endorse the state initiative.