[January 07, 2014]

Tech Council of Maryland Releases 2014 Legislative Priorities for Life Sciences and Technology

The Tech Council of Maryland (TCM), Maryland's largest technology trade association, released its 2014 Policy Platform, which outlines the organization's specific priorities in the areas of advanced technology, life sciences, taxation, transportation, higher education and workforce development. TCM's advocacy efforts during the 2014 session of the Maryland General Assembly, which begins January 8, will focus on further improving the business climate to encourage technology and biotechnology companies to grow and flourish in the state.

Specifically, TCM's 2014 Policy Platform urges policymakers to increase funding for innovation incentives, such as the Research and Development Tax Credit, the Biotech Tax Credit and the Stem Cell Research Fund, and reject onerous changes to the tax structure, such as combined reporting, to provide more certainty for the technology and life sciences business communities. In addition, TCM would like to see implementation of continued long-term funding and policy solutions for development of Maryland's transportation infrastructure, higher education institutions and next-generation workforce.

"As we head into an election-year, there is still much that can be done to make Maryland an ideal location for technology and biotechnology companies to headquarter and grow their businesses," said Phil Schiff, TCM's CEO. "Our 2014 Policy Platform offers a roadmap for issues that are important to Maryland's most innovative industries and we look forward to working with lawmakers in Annapolis to ensure that Maryland is on the forefront of business friendly policies to encourage high-growth industries to call the state home."

"Maryland is a great place to live and work, but more needs to be done," said Douglas Doerfler, chairman of TCM's Board of Directors and CEO of MaxCyte. "There is a highly competitive global market seeking to attract innovative life sciences and technology companies, and Maryland's lawmakers must advance important policy issues that impact the desire of these companies to come to Maryland, such as higher education, workforce, transportation infrastructure and tax incentives, which impact our ability to compete."

Legislative accomplishments during the 2013 session included increasing the R&D Tax Credit cap by $2 million and, for the first time, allowing small, not yet profitable companies to receive the tax credit. Other achievements included the creation of the Cybersecurity Tax Credit, improvements to the Biotech Tax Credit and the defeat of combined reporting legislation.

TCM will outline the new Policy Platform at its Leadership Dinner, which is scheduled for January 30, 2014, at the Loews Annapolis Hotel.

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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