DENVER--(BUSINESS WIRE)--Colorado BioScience Association (CBSA) brings life science innovators to the state Capitol to advocate for policy objectives critical for the state’s more than 720 bioscience companies and organizations. Innovators achieving breakthroughs with Colorado-developed drugs, medical devices and technology will share their successes with legislators during the event, to be held on Monday, March 13 from 9:30 a.m. to 1:30 p.m. in the Old Supreme Court Chambers of the State Capitol Building.
April Giles, President & CEO of CBSA, says:
“Colorado’s collaborative spirit and commitment to improving human health continue to gain national recognition. Linking our legislators to leaders in our state’s life science sector allows the exchange of ideas and insights that inspire pro-growth policies. Our sector’s strong partnership with decision-makers will help our industry secure new sources of capital, grow current companies, attract new businesses and recruit executive talent.”
Highlights of the CBSA Day at the Capitol include:
- Education on the importance of advocacy and engaging with legislators
- Update on 2017 CBSA policy priorities
- Introduction to Colorado State Legislators and expectations for the 2017 session
- Remarks from Lt. Governor Donna Lynne, DrPH
Jennifer Jones, Vice President of CBSA, says:
“CBSA companies have expressed that access to capital is the highest priority for the industry. To that end, renewing the Advanced Industry Investor Tax Credit and fostering the Advanced Industry (AI) Grant Program are two of CBSA’s top legislative priorities for 2017. State support of early-stage life science companies builds companies, creates jobs and attracts significant additional investments.”
The Advanced Industry Investor Tax Credit has been highly successful. Fifty-eight investors in bioscience companies have utilized the tax credit, investing more than $4 million in 15 companies. These companies projected an increase of 291 new employees as a direct result of these investments. The average salary in the bioscience industry is $90,000 and has a multiplier of five, meaning for each bioscience job created there is support for five additional jobs.
In 2016, OEDIT provided $8.68 million to Colorado bioscience companies through the Advanced Industries (AI) Grant Program. Since inception, this industry-critical program supporting the bioscience sector in Colorado has awarded $45.9 million in grants, and continues to make an economic impact in the state, creating:
• 56 new companies
• 597 direct jobs
• $530 million in additional investment
Currently, the state’s bioscience sector employs 30,000 Coloradoans and creates more than 159,000 direct and indirect jobs.
About the Colorado BioScience Association
Colorado BioScience Association champions life science. We serve as the hub of Colorado’s thriving bioscience sector by connecting innovators to funding, infrastructure, research and talent. From promising young companies to established corporations and institutions, we provide opportunities for networking, education and professional development. We grow the bioscience workforce and lead business expansion policies to advance the industry in our state. CBSA represents more than 350 member organizations, including biotechnology, pharmaceutical, medical device, diagnostic, ag bio and mobile digital health companies, research and academic institutions and service providers. Learn more about us at http://www.cobioscience.com.