PROVIDENCE – The Rhode Island Life Sciences Hub board officially has its leader in place.
The R.I. Senate on Thursday unanimously approved former Rhode Island Foundation CEO and President Neil D. Steinberg as the board’s chairperson, Senate spokesperson Greg Pare confirmed Friday to Providence Business News.
Gov. Daniel J. McKee nominated Steinberg back in October to lead the new quasi-public corporation.
The Rhode Island Life Sciences Hub, as previously reported by PBN, will be responsible for coordinating investments and development of the state’s biotech and life science industries. It will also boost development of medical advances and scientific breakthroughs with companies specialized in multiple medical fields.
The new hub, which has a $45 million budget that was allotted in McKee’s 2024 fiscal budget, is also expected to fund and support local life science companies through grants and tax incentives, all the while promoting workforce and economic development.
Steinberg will lead a board of 15 people experienced in higher education, health care and other industries. So far, Steinberg, Rhode Island League of Cities and Towns Executive Director Ernie Almonte and Armand Sabitoni, the former general secretary-treasurer for the Laborers’ International Union of North America, have been appointed to the board.
During Thursday’s confirmation, Sen. Melissa Murray, D-Woonsocket, said Steinberg – who led the Rhode Island Foundation for 15 years before retiring in the spring of 2023 - has an extensive record of professional accomplishment in banking, fundraising and the philanthropic sector. She also said Steinberg is “trusted, respected and deeply devoted to Rhode Island and its future.”
“The life science industry has incredible potential for our state. Realizing that potential will take time, targeted investments and strategic vision,” Murray said. “Mr. Steinberg has been engaged in the Life Science Hub initiative since its inception and he is an exceptional choice to serve as its chair.”
McKee’s office did not immediately respond Friday to a request for comment.
In a statement, McKee thanked the Senate for confirming Steinberg as the hubs new board chair. "I look forward to working with Neil and our team to further grow this key sector and position Rhode Island as a hub for the life science industry," the governor said.
(UPDATED with remarks from Sen. Melissa Murray, D-Woonsocket, and McKee)