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Highlights of Virginia Bio Public Policy Accomplishments in recent years
2017: General Assembly preserves $1.25 M additional funding per year for VBHRC and enlarges the scope of its programs to achieve its mission.
2016: General Assembly creates Virginia Research Investment Fund (“VRIF”), GoVirginia economic development structure, and a new “large company” R&D Tax Credit; increases funding and scope of authority for Virginia Bioscience Health Research Corporation (VBHRC, the “Catalyst”) and increases funding for refundable (small company) R&D tax credit; approves $1B Bonding authority, with hundreds of millions of dollars supporting capital projects impacting biomedical R&D. Governor McAuliffe wins BIO’s Governor of the Year Award in San Francisco.
2015: General Assembly Approves Increased Funding for refundable R&D Tax Credit
2014: Virginia Bioscience Health Research Corporation (“VBHRC”) created to promote collaboration among research universities and industry with grants for commercialization projects begins operations.
2013: General Assembly Approves Increased Funding for Angel Investor Tax Credit
2012: $47 Million for Technology Initiatives in Governor’s Proposed Budget
2011: Virginia General Assembly Approves $15M in R&D Initiatives
Virginia Refundable R&D Credit Passes State Legislature
R&D Credit Top Legislative Priority for VA Bioscience Industry
2010: VABIO Agenda Passes 2010 State Legislature
Virginia State Senator Mark Herring Wins BIO’s National State Legislator of the Year Award
Virginia Biotechs Win $45 Million in Federal Awards
2009: VABIO Advocacy for "Founders’ Credit
VaBIO Victory at Legislature Delivers Bioscience Tax Credit