Biotechnology

Biotechnology is what information technologies were twenty years ago, and all states want a piece of this high growth, high wage industry. States are aggressive and creative in devising economic incentives to draw biotechnology companies to them, offering massive tax credits, low interest loans, and research grants. Missouri has identified biotechnology as a target industry, and in order for the state to become a leader in biotechnology, it must be even more aggressive and creative in its effort to lure biotechnology companies here. This report looks at what biotechnology companies consider when choosing a location and the different incentives and offers the top biotechnology states have made to attract companies.

Key Points in the Report:

Biotechnology Companies Requirements and Desires

Access to research institutes with good technology transfer policies
Close proximity to research institutes.
Reasonable state environmental regulations
Pure and reliable water source.
Good sewage facility.
A reliable power source.
An area with a good quality of life.

BIO Best Practices

Capital Access Funds
Pension Fund Investment
Capital Gains Tax Cut
Net Operating Loss
Tax Loss Transferability
Biotech Sales and Use Tax Exemption and/or Deferral
Research and Development Tax Credit
Investment Tax Credit
Incubators/Shared Research Manufacturing Facilities
Clinical Trial Loan Program

Top Biotechnology States

California
Texas
Pennsylvania
New Jersey
North Carolina
Georgia
New York
Florida
Minnesota
Wisconsin
Missouri

See Full Report