The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: Maryland

Biotech Bailout: Maryland Ask

At a news conference yesterday reported in the Washington Business Journal and picked up by BIO SmartBrief, a group in Maryland expressed their hope that Maryland’s biotech tax credit program, under which

investors receive a tax credit equal to 50 percent of the money they spend

would get the $6 million boost to $12 million initially pledged by Gov. Martin O’Malley (before the budget process), once the State receives the federal stimulus funds from the federal bill.

To qualify for the credit, the company must be based in Maryland, have fewer than 50 employees and be in business less than 10 years.

Interesting that the science funding in the stimulus bill could end up increasing even over the direct amounts via the transfers to States.

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