Sen. Frantz Critical of State Deal for Gene Research Facility

While many have hailed Gov. Dannel Malloy’s aggressive efforts to attract new business to the state — such as the recently approved deal to bring — not every deal has had such overwhelming support.

The recent passage in the General Assembly of a $291 million bond package to help medical research firm Jackson Laboratory, of Bar Harbor, Maine, at the University of Connecticut Health Center has been sharply criticized by some legislators, including , R-Greenwich, who say the 600 jobs the deal will bring over 20 years are coming at too high of a price.

In a recent article in The Bond Buyer, Sen. Frantz said the state is borrowing heavily and investing too much for what many people feel is a risky venture-capital deal. He pointed out that 44 percent of the project’s $345 million price tag is bond interest. Further he said the cost per job created is about $15,000 to $20,000 — much higher in comparison to other recent business deals the state has entered.

Once the plans are approved, Jackson will build a 173,500-square-foot genetics research center on 17 acres of state-owned land in Farmington, where it will work on “medical treatments tailored to patients' genetic makeups,” according to the report. Yale University is also participating in the planned project.

The state funding will be available for up to 10 years to cover construction, equipment and operations, according to the report. In addition Jackson will invest $809 million through federal research grants, philanthropy and service income, according to the report.

This is one of the first deals secured under the , which aims to bring more biosciences companies to the state through incentives. It is has also been one of the more controversial projects covered by the state’s recently approved .