SOURCE: Tech Council of Maryland
ROCKVILLE, MD--(Marketwire - Jan 7, 2013) - The Tech Council of Maryland (TCM), Maryland's largest technology trade association with more than 400 life science and technology members employing over 200,000 in the region, released its 2013 Policy Platform, which outlines the organization's specific priorities in the areas of advanced technology, life sciences, tax climate, transportation, higher education and workforce development. TCM's advocacy efforts during the 2013 session of the Maryland General Assembly will focus on further improving the business climate so that technology and biotechnology companies can start, grow and flourish in the state.
Specifically, TCM's 2013 Policy Platform urges policymakers to raise cap on the Research and Development Tax Credit from $6 million to $18 million and allow companies that are not yet profitable to participate for the first time. It also asks that the funding for the Biotech Investor Tax Credit double to $16 million and that policymakers expand programs that enhance tech-led economic development, such as InvestMaryland and the Maryland Innovation Initiative. Also, the platform states that lawmakers should create certainty for the business community by opposing new corporate taxes or changes to the tax structure. Finally, it calls for developing and implementing long-term, stable funding solutions for Maryland's transportation infrastructure and higher education system. The session of the Maryland General Assembly begins January 9, 2013.
"The 2013 General Assembly session is another opportunity for policymakers to deal with challenging issues that impact the state's innovative business community," said Larry Letow, chairman of TCM's Board of Directors. "The Tech Council of Maryland's Policy Platform for 2013 is a roadmap for issues that are important to technology and life sciences in Maryland and we look forward to working with policymakers in Annapolis to advance the interests of our membership, create programs that enable and advance innovation and assure that Maryland is on the forefront of tech-led economic development."
"Innovative life sciences and technology companies are the key to Maryland's economy both now and in the future," said Douglas Doerfler, vice chairman of TCM and chair of its MdBio Division Board of Directors. "Leaders in Annapolis have been forward thinking with programs like the Biotech Investor Tax Credit, Maryland Innovation Initiative and the InvestMaryland program and there are already results."
Legislative accomplishments during the 2012 session included maintaining the requested $8 million in FY2013 funding for the Biotech Investor Tax Credit, the creation of the Maryland Innovation Initiative, the creation of a Communications Tax Reform Commission and the defeat of legislation that would have instituted corporate tax changes, such as combined reporting. TCM has worked closely with both legislative leaders and the Governor's office to ensure continued state support for critical funding for programs such as InvestMaryland, Research and Development Tax Credit, Enterprise and Challenge Programs, TEDCO and stem cell research.
TCM will outline the new Policy Platform at the January 31, 2013, Leadership Dinner held at the Loews Annapolis Hotel. To read TCM's 2013 Policy Platform, click here.
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.