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Wednesday, January 27, 2010 - 10:21am

State Biotech Development Authority Could See Budget Slashed

The Georgia Medical Center Authority is a state agency devoted to helping startup biotech companies turn new medical technology into profits and high-paying jobs.

But Governor Perdue wants to cut $300,000 of state money from the agency.

GMCA executive director Stanley DeHoff says that’s almost their entire operating budget.

"If we don’t have any further state funding then there won’t be any employees, there won’t be any operations to keep the lights on and pay the bills. And that’s going to be the challenge: to figure out what’s going to be the impact to the companies. Because it’s our equipment that they’re using right now. If we can’t operate and be here what happens to that equipment?" DeHoff said.

DeHoff says one possibility is that the state might offer to sell the equipment to the companies and close the GMCA’s doors for good.