We are writing to advise that the New Jersey Economic Development Authority (EDA) announced today the names of 65 emerging biotechnology and other high-tech companies that have been approved to receive $60 million through the Technology Business Tax Certificate Transfer Program under the State's 2013 Fiscal Budget Year.
Conceived of and advocated for by BioNJ in 1999, this competitive program enables companies to sell New Jersey tax losses and/or research and development tax credits to raise cash to finance their growth and operations.
"Access to funding, particularly in the continuing difficult economic climate, remains the most critical issue affecting the growth of biotechnology companies," said Debbie Hart, President and CEO of BioNJ. "We are pleased that the Governor and the Legislature continue to support the Technology Business Tax Certificate Transfer Program, which supports companies that are working in New Jersey to discover and develop innovative medicine and therapies directed at meeting unmet medical needs."
Please CLICK HERE to read the EDA Press Release.
Yours in BioNJ,
Debbie Hart
President and CEO
