BioME would like to voice our support towards LR0422, An Act To Restore the Super Credit for Substantially Increased Research and Development proposed by Representative Allison Hepler. This legislation would reinstate the Super tax credit that was available to innovative Maine institutions prior to 2015 and allowed for substantial business savings.
R&D is especially important in the economic development life cycle, as it’s the seed for future growth and opportunities. BioME strongly believes that the R&D super tax credit will allow a number of bioscience businesses achieve 2 very important goals which, in our opinion, are vital for the life science ecosystem in Maine, as well as economic growth in general: successful commercialization and workforce development.
Read more: LR 0422 R&D tax credit 2019 support letter