Legislative Call to Action – Save the Biotech Investor Tax Credit and Research and Development Tax Credit

While the official legislative session for the state of Maryland starts January 10, 2018 and ends April 9, 2018,  it is important for the Maryland Tech Council and its members to start working NOW to make sure Maryland biotech and technology companies are heard and protected in Maryland.   Many of you have heard me say over the last year that Maryland is one of the top innovation hubs in the United States.  In order to stay at the top, we must have a talented workforce, great educational institutions, capital and legislation that supports our biotech and technology companies.   I believe that there is a huge movement by both the companies and the government to make sure that we have all of these things.  However, sometimes politics get in the way and some laws come out that threaten our companies’ ability to survive.  That is why the Maryland Tech Council is committed to advocating in Annapolis for laws that help our biotech and technology companies and defend against those that harm our companies.   

We have had many times in the past when we have spoken out loudly to help our companies and have been heard.  Now that we have merged the two largest tech councils in the state, we have doubled our voice and people are listening.   In the past the biotech and technology community assembled to fight the tech tax, price gouging bills and support tax credits to spur innovation.  We once again need everyone to assemble to have our voice heard. 

On December 5th a hearing in Annapolis discussed a report recommending that the General Assembly eliminate the biotechnology Investment Incentive Tax Credit and the Research and Development Tax Credit.  The Maryland Tech Council was at the hearing on this report loudly supporting the need for both of these tax credits.  We will hold an emergency meeting next week to mobilize the biotech and technology companies  to get out and make sure our legislators know that both of these tax credits MUST remain and in fact get additional financial support.  It is all of our duties to make our voice heard and let Maryland know the needs of our biotech and technology companies.   

We will also host a Legislative Day on January 18th starting with sessions in the morning, meetings with legislators, a rally and ending with a Leadership Dinner.  It is important that each and every bio and tech company participate and are heard so that the legislators know how strong we are and what our issues and needs are in the state.

Please help the Maryland Tech Council’s voice be heard loudly this year in Maryland.  Together, we need to make sure that Maryland is a state where Innovative companies have all of the resources they need to grow and thrive. 

If you would like to get more involved..contact me at tami@mdtechcouncil.com.  We welcome anyone who wants to help us in this mission to make Maryland a top innovation hub in the United States.