Section 45. (a) There shall be a Massachusetts Technology Transfer Center, hereinafter referred to as the center, at the University of Massachusetts, that shall facilitate the transfer of technology from the commonwealth's research institutions to the commonwealth's industries, for productive use by such industries.

(b) The center shall provide advice and assistance to public and private research institutions on strategies for technology transfer including, but not limited to, advice and assistance in the following areas:

(1) assessing the viability and value of developing technologies;

(2) defining and exploiting potential markets for such technologies;

(3) commercialization strategies;

(4) intellectual property issues, including licensing strategies; and

(5) business development.

(c) The board of trustees of the University of Massachusetts, in consultation with the secretary of housing and economic development, shall appoint an executive director of the center. The executive director shall devote his full time to the operation of the center and may be removed at the pleasure of the board of trustees. The executive director shall report annually to the Massachusetts office of business development on the number of technology transfer transactions or projects that have been consummated with the assistance of the center, the names and geographic locations of the recipient industries and the estimated number of new jobs created as a result of such transactions or projects.

(d) There shall be an advisory committee relative to the center consisting of the secretary of housing and economic development, who shall serve as chair, the executive director of the Massachusetts development finance agency, the president of the Massachusetts life sciences center, the executive director of the Massachusetts clean energy center, the director of the John Adams Innovation Institute, the president of the Massachusetts Technology development corporation and 8 members selected by the executive director of the center, with the approval of the board of trustees, 1 of whom shall be a representative from a technology industry, at least 1 such member shall be a representative from academia, at least 1 such member shall have experience in venture financing and at least 1 such member shall have experience in public administration. The appointed members of the committee may be removed by the executive director with or without cause, subject to the approval of the board of trustees, and shall serve without compensation, except that each member shall be entitled to reimbursement for actual and necessary expenses incurred in the performance of official duties. The advisory committee shall meet at least twice annually.

(e) There shall be a center for economic analysis and assessment within the McCormack Graduate School of Policy Studies' Center for State and Local Policy. The center shall analyze and study economic trends in the commonwealth and shall provide its analysis to elected officials. The center shall continuously research and inform elected officials on the following subject areas:

(1) effectiveness of the commonwealth's economic development incentive programs including, but not limited to, tax credits, loan and matching grant programs;

(2) job creation programs;

(3) tax policy;

(4) workforce training and development programs; and

(5) regional and national competitiveness of the state's economy.

The center shall work with existing research entities within the University of Massachusetts system and other public agencies to prepare timely analysis of the economy of the commonwealth and other economic indicators.