Berkshire Innovation Center Gets $300K Toward Closing Funding Gap
An economic development agency in Pittsfield, Massachusetts is committing more funding to help the Berkshire Innovation Center open.
The Pittsfield Economic Development Authority has pledged up to $300,000 to keep the Berkshire Innovation Center running in 2018, and close an operation funding gap. The agency committed $250,000 in 2015.
The BIC has faced a $3 million funding gap. In September, the city of Pittsfield allocated $1 million, which offset several administrative holdups and delayed construction costs.
The city expected the state to kick in an additional $2 million by October, but that never happened. iBerkshires reports the Massachusetts Life Sciences Center has “verbally agreed” to committing $2.3 million to the project – leaving $450,000 outstanding for groundbreaking and operating costs.