Sununu Signs Bill Giving Big Tax Break To Biomanufacturing Companies
Businesses that focus on generating human organs won't have to pay state business taxes for ten years under a bill signed into law today by Governor Chris Sununu. Backers of the bill, including companies set to benefit, say it could mean great things for New Hampshire.
Kentucky-based Advanced Solutions has already moved workers to New Hampshire in anticipation of the the new law. And CEO Michael Golway told business and political leaders that he's done deals all over the county and had never seen a state move so fast to meet the needs of entrepreneurs.
He said the tax breaks and the commitment to forgive the student loans of biomanufacturing workers are powerful tools.
"This is a big deal for a small business and it is going to enable companies likes ours to invest more in the model and allow us to grow faster, and acceleration is the name of the game here."
The policies won quick approval in Concord after the Department of Defense choose Manchester for an $80-million grant focused on manufacturing tissues and organs. Inventor Dean Kamen spearheaded the effort to win the grant and is recruiting companies.