Number 5: North Carolina
The following is a list of special incentives enacted
by the North Carolina legislature and adopted by individual
business communities:
- Sales tax of 1% or less for R&D equipment and
an exemption for manufacturing equipment.
- 5-year net operating loss carryforward for R&D
tax credit.
- North Carolina Biotechnology Center, a technology
development center that supplies grants to start-up
companies and research institutions. Also arranges
collaborations with universities, provides access to
venture capital, and provides training for biotechnology
employees.
- Development of two new incubators near universities.
- Lost cost financing for renovation and facility upgrade
projects.
- 7% tax credit for qualified purchases of machinery
and equipment. 5% tax credit for R&D expenditures
made in North Carolina.
- $500 to $1000 tax credit for each employee receiving
training. $500 to $12,500 tax credit for each new job
created
Business Facilities Magazine (Oct. 1999)
ranked states with thriving biotechnology industries.
The rankings were based on the following factors:
1. The total biotechnology employment
in 1999.
2. The numeric change in the number of jobs added between
1990-1997.
3. The total biotechnology establishments in 1997.
4. The numeric change in the number of biotechnology establishments from 1990-1997.
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