Financing set for St. Paul biosciences incubator

by Cathy Wurzer, Minnesota Public Radio

A proposal for a University of Minnesota biotech business incubator in St. Paul gets a boost later today when officials announce they have raised enough money to get the idea going. St. Paul Mayor Randy Kelly threw his support behind the idea a year-and-a-half ago, and had the city pay almost $7 million for a building to house the project. But the final deal did not come together until Mayor Kelly also agreed to a $6 million loan guarantee for the project. Morning Edition host Cathy Wurzer spoke with Mayor Randy Kelly.