|[January 07, 2014]
Tech Council of Maryland Releases 2014 Legislative Priorities for Life Sciences and Technology
ROCKVILLE, Md. --(Business Wire)--
Tech Council of Maryland (TCM), Maryland's largest technology trade
association, released its 2014
Policy Platform, which outlines the organization's specific
priorities in the areas of advanced technology, life sciences, taxation,
transportation, higher education and workforce development. TCM's
advocacy efforts during the 2014 session of the Maryland General
Assembly, which begins January 8, will focus on further improving the
business climate to encourage technology and biotechnology companies to
grow and flourish in the state.
Specifically, TCM's 2014 Policy Platform urges policymakers to increase
funding for innovation incentives, such as the Research
and Development Tax Credit, the Biotech
Tax Credit and the Stem
Cell Research Fund, and reject onerous changes to the tax structure,
such as combined reporting, to provide more certainty for the technology
and life sciences business communities. In addition, TCM would like to
see implementation of continued long-term funding and policy solutions
for development of Maryland's transportation infrastructure, higher
education institutions and next-generation workforce.
"As we head into an election-year, there is still much that can be done
to make Maryland an ideal location for technology and biotechnology
companies to headquarter and grow their businesses," said Phil Schiff,
TCM's CEO. "Our 2014 Policy Platform offers a roadmap for issues that
are important to Maryland's most innovative industries and we look
forward to working with lawmakers in Annapolis to ensure that Maryland
is on the forefront of business friendly policies to encourage
high-growth industries to call the state home."
"Maryland is a great place to live and work, but more needs to be done,"
said Douglas Doerfler, chairman of TCM's Board of Directors and CEO of
MaxCyte. "There is a highly competitive global market seeking to attract
innovative life sciences and technology companies, and Maryland's
lawmakers must advance important policy issues that impact the desire of
these companies to come to Maryland, such as higher education,
workforce, transportation infrastructure and tax incentives, which
impact our ability to compete."
Legislative accomplishments during the 2013 session included increasing
the R&D Tax Credit cap by $2 million and, for the first time, allowing
small, not yet profitable companies to receive the tax credit. Other
achievements included the creation of the Cybersecurity Tax Credit,
improvements to the Biotech Tax Credit and the defeat of combined
TCM will outline the new Policy Platform at its Leadership
Dinner, which is scheduled for January 30, 2014, at the Loews
ABOUT THE TECH COUNCIL OF MARYLAND, INC.
The Tech Council of Maryland (TCM) is the largest technology trade group
serving the advanced technology and biotechnology communities of
Maryland. TCM's mission is to advocate for the interests of the
technology community, further the role of technology in the Maryland
economy, and nurture an environment where technology companies can
collaborate, grow and succeed. For more information, visit www.techcouncilmd.com.
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