Biotech companies can benefit immediately from a new tax credit, called the Therapeutic Discovery Tax Credit. It was included in the Patient Protection and Affordable Care Act, otherwise referred to as the Healthcare reform bill, recently passed by Congress. Each year, the biotech sector generates over $75 billion in revenue. The industry provides 274,000 jobs to Californian workers, nearly 20% of them are in the Bay Area.
“The biotechnology industry in California is not only a vital part of our economic engine but the …