Quinn to detail new biotech center in Chicago

Published: Thursday, Feb. 6, 2014 11:01 a.m.CDT

CHICAGO — State officials are expected to announce more details on a new Chicago center that'll help start medical technology companies.

Gov. Pat Quinn and others are scheduled to speak Thursday afternoon about the so-called "bio-hub." The Chicago Democrat mentioned it in his State of the State address last month.

The new center is expected to be completed later this year. It's modeled after 1871, a center at Chicago's Merchandise Mart for digital startups. State officials estimate 1871 created about 800 jobs in the first year.

Officials have said the biotech center will encourage entrepreneurs and prospective investors in medical technology to seed new companies.

The state will provide grant money for the project. It'll be a private-public partnership and run by a not-for-profit organization.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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