Biotech executives are applauding Montgomery County officials for following through on another key recommendation of the county’s Biosciences Task Force.
The county council’s Planning, Housing and Economic Development Committee on Monday recommended that the council provide $500,000 in annual supplemental funding as a local piggyback on the state’s own biotech investment tax credit. While not a formal tax credit, which would require an amendment to state law, the county appropriation would effectively make it a grant program, said Steven A. Silverman, the county’s economic development director.
Read Original Article: Montgomery panel favors $500,000 for biotech tax credit