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BIO Inventories State Biotech Initiatives
The Biotechnology Industry Organization (BIO) released State Government Initiatives in Biotechnology 2001, the results of the first comprehensive survey of state government efforts to attract and grow the biotechnology industry. The report, prepared by Battelle Memorial Institute and the State Science and Technology Institute (SSTI), contains information from 48 states and shows state governments becoming increasingly active in recruiting and supporting biotechnology companies.
As an example of state government innovation in biotechnology initiatives and the valuable information contained in the report, 16 states are utilizing their tobacco settlement funds for bioscience-related research and development. In addition, 28 states reported having at least one publicly supported venture fund that can invest in bioscience-related companies. The majority of states responding to the survey have research and development tax credits, sales and use tax exemptions, or investment tax credits related to biotechnology.
The report shows trends in a variety of financing ventures, higher education initiatives, networking mechanisms, research parks and academic health centers involved in biotechnology.
With profiles of each state, the full 224-page State Government Initiatives in Biotechnology 2001 is available on BIO's website: http://www.bio.org