Kansas Bioscience Authority Cuts Staff, Halts Investments
Associated Press - July 21, 2015 2:40 pm
Recent layoffs and shrinking of the Kansas Bioscience Authority's operations are being seen as signs that the quasi-governmental agency might be on its last legs.
Faced with dwindling state funding, the Kansas Bioscience Authority is laying off several staff members and scaling back operations.
The KBA invests public money in the biotech industry to foster startups and attract investment in Kansas.
But state funding for the agency has been cut significantly since 2012. Statute allows for the KBA to receive up to $35 million each year. But from 2012 through 2015 it received less than $29 million.
Duane Cantrell, the KBA’s president and CEO, told The Kansas City Star KBA is laying off seven of its 13 full-time staff members and no longer has a full-time scientist on staff. It also will hold off on making new investments for now.
The governor’s office says the KBA has to manage within its budget.