WASHINGTON, D.C. (Monday, March 16, 2009) - BIO President and CEO Jim Greenwood released the following statement today in response to the Obama Administration’s plans to unlock credit for small businesses:
“We support the Obama Administration’s efforts to sustain the many small businesses struggling in this credit crisis. The measures announced today are important steps toward opening credit markets and providing a flow of cash for many of our nation’s small businesses.
“As many small companies within our sector continue to struggle with access to capital, we need targeted measures that recognize both the immediacy of the current economic environment and the continuing long-term prospects of the innovation economy. The new initiatives announced today provide needed support, but will likely have a limited impact on those investor backed industries that do not generally seek small business loans.
“Biotechnology is uniquely positioned to fulfill the President’s vision of a robust science sector, driving significant economic growth, providing high skill, high wage jobs, and developing advanced therapies and cures for patients suffering from debilitating diseases, developing new energy sources, and enhancing sustainable agriculture. We can help meet his call for a cure to cancer ‘within our time,’ fulfill the promise of stem cell research, provide technologies for sustainable, renewable fuels and continue America’s competitive advantage in innovation.
“We hope that the President and his advisors will take a closer look at helping small biotech companies and other investor-backed, innovative businesses that are the foundation of the new economy.”
Upcoming BIO Events
March 16-18, 2009
BIO IP Counsels' Committee Conference
March 25–27, 2009
BIO National Venture Conference
March 31–April 1,2009
BIO Windhover 2009
April 13-15, 2009
New York, NY
BIO-LES Business Development Basics Course
May 15–17, 2009
BIO-LES Advanced Business Development Course
May 15–17, 2009
BIO Executive Presentation Workshop
May 17, 2009
BIO Human Resources Conference
May 17-19, 2009
2009 BIO International Convention
May 18-21, 2009
June 9-10, 2009
World Congress on Industrial Biotechnology & Bioprocessing
July 19-22, 2009
Montreal, Quebec, Canada
BIO represents more than 1,200 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.