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States flock to biotech like gamblers to lottery tickets

States flock to biotech like gamblers to lottery tickets
Florida lawmakers last month approved a $310 million biotech research center proposed by Gov. Jeb Bush just three months ago. New York launched a media campaign in September to woo more biotech investors. In the past two years, New Mexico, Kentucky and Arkansas started venture-capital funds to attract and nurture biotech start-ups.

Dozens of other states might be next. A recent Brookings Institution report notes that biotech ranked as the No. 1 or No. 2 target for 83% of 113 state and local economic agencies nationwide.

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