The State of Michigan will invest $1 billion from its share of the settlement between the tobacco industry and 46 states in biotechnology, medical and genetics research.
Under the settlement, the industry will make payments to the states over the next 20 years for the treatment of smoking-related illnesses among Medicaid patients.
Michigan will receive $8.5 billion.
Those funds pay for the Life Sciences Corridor, a collaborative project involving the University of Michigan, Michigan State University, Wayne State University, the Van Andel Cancer Institute and numerous other research companies and organizations.
Michigan hopes that the corridor will create high-paying, high-tech jobs and make the state a more attractive place to start or locate a business.
The state will request research proposals next month in five categories: basic research, applied research, development grants, development ventures and commercial services.
Awards will be made in the fall.