Delaware Bio Applauds Passage of Angel Investor Tax Credit Legislation
Published: May 07, 2018
The Job Creation and Innovation Act for Small Technology Companies (HB 170) provides 25% in tax credit, up to $125,000, to each angel investor who invests over $10,000 in a qualified Delaware company. Investors need not be Delaware residents. Eligible businesses have fewer than 25 employees, and engage in innovation as their primary business activity, in fields including but not limited to renewable energy, food technology, cellulosic ethanol, materials science technology, nanotechnology, biotechnology, medical device products, pharmaceuticals, diagnostics, biologicals, and chemistry.
About Delaware BioScience Association
The mission of the Delaware BioScience Association is to be the catalyst to ensure Delaware becomes a leader in life sciences by developing a cohesive community that unites the region's biotechnology, pharmaceutical, research, financial, and agricultural strengths. To accomplish this, Delaware Bio is committed to working collaboratively across the region to grow the life sciences industry. Delaware's bioscience industry is helping to diversify and grow the U.S. economy. Coupled with its neighboring states of Pennsylvania and New Jersey, the tri-state region represents 80% of the US pharmaceuticals industry. Strong academic research institutions working collaboratively with medical institutions and industry develop and commercialize many of the blockbuster drugs and the most innovative diagnostics and medical devices found anywhere in the world: All within a 50-mile radius and within a one- to two-hour drive of each other. Global bioscience industry giants with significant Delaware research and or manufacturing operations include Agilent Technologies, DowDuPont, Incyte Corporation, Johnson & Johnson, Merck, Siemens Healthcare Diagnostics, W.L. Gore & Associates, and within an hour's commute include Cephalon, Centocor, CSL Behring, Endo Pharmaceuticals, GSK, Pfizer, Sanofi-Aventis and more. For additional information please go to http://delawarebio.org.
Delaware BioScience Association
Helen Stimson, President & CEO
Source: Delaware BioScience Association