Members and Friends of Virginia Bio,
The 2016 legislative session has kicked off here in Richmond and its time for everyone to make a difference. This General Assembly faces an urgent need to develop smart policies to jumpstart diversified, high-tech, high-wage job and economic growth across the state. Investing in the bioscience/biomedical fields can produce the growing economic returns Virginia needs to provide great jobs and support the state budget. Over the last year, Virginia Bio has led industry and research university leaders on crafting a comprehensive plan to dramatically grow the bioscience economy for decades to come (details can be found here
Most of these important programs support the growth of all technology industries. Others focus on biosciences to jumpstart the tremendous potential untapped in the state. Taken together, they complement and complete one another to form a strong framework on which private industry will build an industry of national prominence. The plan is already reflected in the Introduced Budget. We urge the General Assembly to maintain and support the Virginia Bio plan as it develops its budget amendments.
Some key points of the initiative:
•Increase funding for Virginia Bioscience Health Research Corporation. The “Catalyst’s” grants match private dollars to fund high commercial impact research collaborations of two or more Virginia universities with industry.
•Create a Fund to support game changing in-bound biopharma investment of global stature to accelerate development of a complete, nationally ranked, bio industry in Virginia.
•Increase funding for tax credits that support all technology industries. These credits include Angel Investor tax credit and R&D tax credit (If you have benefited from either of these tax credits, please contact me so you can share your story of their significance and impact).
•Create a Virginia Research Alliance to systematically grow economic activity in all technologies, bending universities' behavior towards commercialization and into alignment around strengths with industry.
Throughout the Session, industry leaders from around the state will be visiting to describe the opportunity and answer your questions. Would you like to find out what you can do? Please click here
to find your legislator and let them know you support the Virginia Bioscience Economic Initiative. Feel free to contact me directly at any time, and join the policy group if you are interested.