SOURCE: Tech Council of Maryland

Tech Council of Maryland

June 29, 2011 16:00 ET

Tech Council of Maryland Congratulates Sen. Nancy King for Being Named 2011 BIO State Legislator of the Year

WASHINGTON, DC--(Marketwire - Jun 29, 2011) - The Tech Council of Maryland (TCM), Maryland's largest technology and biotechnology association with nearly 500 members employing more than 250,000 in the region, today congratulated Maryland Sen. Nancy J. King for being named the 2011 BIO State Legislator of the Year, an annual award that recognizes a legislator who makes an outstanding contribution to advancing the biotechnology industry in his or her state. Sen. King was presented her award at a press conference this afternoon during the 2011 BIO International Convention in Washington, D.C.

"Sen. King is incredibly deserving of this honor because of her ardent support of Maryland's biotechnology community," said Renée Winsky, CEO of TCM, which also recently honored Sen. King as 2011 Tech Advocate of the Year during its annual dinner in May. "Her accomplishments on behalf of the industry are wide-ranging and this award from BIO recognizes the important role she has played in making Maryland a national leader in fostering biotech success."

TCM nominated Sen. King for this award. Sen. King was selected for her work, extending back to 2007, when she opposed the tech tax and was instrumental in its repeal. More recently, in 2010, she sponsored legislation extending Maryland's Research and Development Tax credit for 10 years. And this year, she was the primary Senate sponsor for legislation making critical changes to the Biotech Tax Credit and led efforts to secure $8 million of funding for the program in her role as a member of the Senate Budget and Taxation Committee. As an appointee to the Maryland Business Tax Reform Commission, Sen. King fought against recommending the combined reporting method of corporate taxation, which was opposed by many of the state's larger biotech companies and the business community at large. And finally, this year, she was paramount in defeating onerous legislation that would have greatly harmed the Research and Development Tax Credit, the Biotech Tax Credit and other incentive programs that are important to the state's biotech community.

"If it were not for Sen. King's leadership, we believe Maryland would be a far less attractive place for biotech companies to establish their headquarters and pursue groundbreaking research and development activities," said Douglas Doerfler, Chairman of TCM's MdBio Division, and president and CEO of MaxCyte. "We thank Sen. King for her support and hard work on behalf of our industry and look forward to work with her to continue growing this vibrant market in our state."

"I am honored to be recognized by the Biotechnology Industry Organization for my role in advancing the biotech industry in Maryland," said Sen. King. "Biotechnology developments and improvements in healthcare and the environment will impact generations to come. I urge my colleagues to provide their support to an industry that is shaping our future while adding jobs that are critical to our country's economic growth."

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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