WASHINGTON, D.C. (Thursday, March 03, 2011) - Jim Greenwood, president and CEO of the Biotechnology Industry Organization (BIO), today issued the following statement regarding passage of numerous job-creating programs during the 2011 Virginia General Assembly.
“Governor Bob McDonnell, Lieutenant Governor Bill Bolling and Virginia’s House and Senate budget leaders are to be commended for ensuring that innovative technology programs remain a priority though this difficult economic climate. By passing numerous measures that support the growth of technology companies, they are encouraging private sector job creation and advancing their state’s overall economic development.
“The Virginia Refundable Research and Development Tax Credit, recently passed by the Virginia House and Senate, is a successfully proven incentive to create new jobs and enable small and large companies to advance new products and technologies. When the program is signed into law by Governor McDonnell, Virginia will join 38 other states that offer tax incentives for R&D spending.
“Another important program to emerge from the Virginia General Assembly this year is a plan to match the level of federal funding provided to companies who have been awarded Phase 1 Small Business Innovation Research grants by the National Institutes of Health. This is another tried-and-true measure that underscores the pivotal role government can play in encouraging and expanding business growth in an innovation economy.
“These initiatives provide a vital lifeline for early stage technology and life science firms engaged in high risk, high reward research and build upon Virginia’s competitiveness in the global economy. They benefit us all by increasing the likelihood of finding cures and treatments for patients – and providing high-paying jobs for American workers.”
Upcoming BIO Events
BIO-Europe Spring 2011
March 14-16, 2011
BIO Intellectual Property Counsels Committee Spring Conference and Committee Meeting
April 13-15, 2011
World Congress on Industrial Biotechnology & Bioprocessing
May 8-11, 2011
Toronto, Ontario, Canada
Partnering for Global Health Forum 2011
June 27, 2011
BIO International Convention
June 27-30, 2011
2011 BIO Human Resources Conference
June 26-28, 2011
The Business Forum at the BIO International Convention
June 28-30, 2011
BIO India International Partnering Conference
September 21-22, 2011
BIO China International Conference
October 12-13, 2011
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtech Now, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtech Now.
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