Tuesday, January 19, 2010

Virginia Gov McDonnell: Biotech Investment A Priority

Governor Robert F. McDonnell highlighted the importance of the Biotechnology industry in his first "State of the Commonwealth" address to the Virginia General Assembly, January 18, 2010. He specifically notes legislation by Delegate Sam Nixon (HB 523) and Senator Mark Herring (SB 428) to create a capital gains tax exclusion for bioscience investment.

From the transcript: "We will also target new Opportunity Fund dollars to the bio-tech industry. This is an industry of high-paying jobs in a fast-growing career field. Smart states look at this sector for future economic development. We will as well. Delegate Sam Nixon of Chesterfield is teaming up with Senator Mark Herring from Loudoun County to push my commitment to grant an income tax exemption for qualified investments by technology and science startup businesses."

Click here for the video:

No comments: