James Baxter, senior vice president of development at Boehringer Ingelheim USA and a CURE board member, writes in the Hartford Courant:
“Until now, [the Connecticut research and development tax credit] has created a competitive environment that has helped Connecticut keep a seat at the bioscience table. … In the budget recently passed by the General Assembly, the credit has been retroactively reduced from 70 percent to 50 percent. … The cut … has many people questioning the logic of the decision because the program has proved to be one of the state’s most successful drivers of economic activity and job growth …” more
Anthony Sabatelli, partner and chair of Dilworth IP’s pharmaceutical and biotechnology group, is also chair of CURE’s Government Affairs Committee. In that role he testified before the State of Connecticut’s Finance, Revenue, and Bonding Committee, advocating for the continued R&D tax credit for businesses as a “competitive necessity”, especially as it impacts the state’s growing biotechnology and pharmaceutical industry … more
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