Number 3: Pennsylvania
The following is a list of special incentives enacted by
the Pennsylvania legislature and adopted by individual
business communities:
- Sales tax exemption for items used in research and
manufacturing.
- R&D tax credits.
- 3-year net operating loss carryforward limited to
$500,000 per year.
- Technology 21, a program led by Pennsylvania's biotechnology
industry to create a new strategy for the state's biotechnology
industry and identify strategic investments.
- Governor's Response Team: An economic development
team that assists biotechnology companies with site
selection, financing incentives, regulatory streamlining,
job transfer, and technology transfer.
- Technology centers and business incubators located
on the Penn State campus.
- Ben Franklin Partnership: provides grants and seed
funding for early-stage technology companies.
- 3-6% loans for R&D and manufacturing. Money can
be used for land and/or building acquisition, construction
and/or renovation expenses.
- The Sunny Day Fund matches loans (up to 50%) at 3-6%
for use in bricks, mortar, and equipment.
- Loans and grants for development in distressed communities,
including money to purchase equipment and machinery
and cover engineering and installation costs.
- PA Capital Loan Fund for companies with fewer than
100 employees.
- Redevelopment loans and grants, including low cost
financing for upgrading equipment and machinery.
- Loans, grants, and equity financing for technology
development.
- Job training grants and reimbursements
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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