[Source: Opportunity Greater Phoenix] – A new tax credit for small companies could bolster Arizona’s growing bioscience industry.
The $1 billion Therapeutic Discovery Project Program, created by the new health care reform legislation approved in March, is available to companies with fewer than 250 employees.
The credit covers up to 50 percent, or up to $5 million, of a company’s qualifying bioscience research. The credit is for 2009 and 2010 investments.
For more information: $1 billion federal tax credit for small bioscience firms