ATLANTA--(BUSINESS WIRE)--Georgia Bio, the state’s life sciences advocacy and business leadership organization, announced today that Governor Brian Kemp’s signing of Senate Bill 6 includes language for the Georgia Made Medical Manufacturing Act.
“The COVID-19 pandemic drew national attention to drug shortages in the U.S., which have become more frequent over the past decade due to an overreliance on pharmaceutical ingredients from overseas,” said Maria Thacker-Goethe, Georgia Bio’s president and CEO. “This legislation strengthens Georgia’s ability to support patients during and after the pandemic, highlights the vital work of our pharmaceutical and medical device and supply manufacturers, and creates jobs by attracting and growing the life sciences industry in Georgia. Thank you to Governor Brian Kemp and his office for prioritizing our industry, healthcare independence, and the health and safety of Georgia’s citizens.”
Senate Bill 6, initially a bill to implement oversight of existing tax credits, became an omnibus tax bill with several issues represented. Part II of the bill allows companies eligible for the existing Jobs Tax Credit to receive an additional $1250 tax incentive for all new employees beginning July 1, 2021 or later engaged in pharmaceutical manufacturing and medical supply manufacturing.
Senate Bill 6 was signed during a bill signing ceremony at the Cobb Chamber of Commerce and will take effect on July 1, 2021. To read the full text of the bill, click HERE.
About Georgia Bio
Georgia Bio (www.gabio.org) is the state’s private, non-profit life sciences association. Members include pharmaceutical, biotechnology and medical device companies, medical centers, universities and research institutes, government groups and other business organizations involved in the development of life sciences related products and services.