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Article: CREATING HUNDREDS OF HIGH TECH JOBS, COUNCIL VOTES ON $3 MILLION BIOTECH TAX CREDIT

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US Fed News Service, Including US State News
Article date:
September 18, 2009
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CITY HALL, N.Y., Aug. 20 -- The New York City Council issued the following press release:

At today's Stated Council meeting, the City Council will vote to create a $3 million biotechnology tax credit encouraging small biotech companies to bring jobs, innovation and new technology to New York City. Biotechnology firms will be provided with a refundable annual credit up to $250,000 for facilities, operations and training and will be eligible for the credit for up to three years. This legislation, which requires State approval, was enacted by the Stated legislature in July and signed into law by Governor Paterson on Tuesday.

The Council will also vote on two bills as part of a comprehensive ...

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