Michigan Leads the Nation in Using Settlement Funds for Health Research And Job Creation LANSING, Mich., March 23 /PRNewswire/ -- The State of Michigan has announced its plans to use $1 billion from its tobacco settlement award to establish a world-class Life Sciences Corridor for research in biotechnology, medicine, and genetics. The state will issue Requests for Proposals (RFPs) next month seeking projects to fund in five categories: basic research, applied research, development grants, development ventures and commercial services. The state plans to allocate $25 million for Collaborative Research and Development, $20 million for Basic Research, and $5 million for Commercial Development to assist life sciences companies starting operations in Michigan. The move to fund the Life Sciences Corridor with the $1 billion in tobacco settlement money -- $50 million each year -- is unique among states who have reached a $246 billion settlement with the tobacco industry. The funds are to be paid over the next 20 years to assist in treating related illnesses of people on Medicaid. The State of Michigan was awarded $8.5 billion in the settlement. A 14-member steering committee, under the leadership of president and CEO of the Michigan Economic Development Corporation, Doug Rothwell, held its first meeting March 20 at Michigan Virtual University in Lansing. ``The Executive committee will invite full proposals for each category due this summer,`` said Rothwell. ``Following a diligent review process, the committee will make awards by the fall.`` The panel has enlisted the help of the Washington Advisory Group to conduct an analysis of Michigan`s life sciences research infrastructure and to advise on investment initiatives. Panel members include the former president of the National Science Board, Frank Press, and the former director of the National Science Foundation, Erich Bloch. A Technical Advisory Committee comprised of 20 scientists has been established to study those proposals requiring scientific review. The Life Sciences Corridor is a working collaborative between the University of Michigan, Michigan State University, Wayne State University, The Van Andel Cancer Institute in Grand Rapids and numerous pharmaceutical, chemical and related research companies and organizations. The Michigan Economic Development Corporation is promoting the Life Sciences Initiative to position Michigan as a major global center for both life sciences and research, and business development. The Corridor is part of the state`s plan to create high-paying, high-tech jobs that will make Michigan a more attractive place to start or locate a business. According to web site Selection Magazine, Michigan led the nation for new plants and expansions for the third year in a row. Source: PRNewsWire