Wednesday, December 17, 2014
YOLO COUNTY NEWS
99 CENTS

Garamendi touts investment in innovative technologies

By
From page A15 | April 21, 2013 |

Rep. John Garamendi, D-Walnut Grove, is a co-author of the Innovative Technologies Investment Incentive Act, which was reintroduced last week in Congress. The bill is designed to create jobs, accelerate economic growth and make targeted investments that keep America on the cutting edge of innovation, he said.

“High-tech businesses are the shining stars of our economy,” Garamendi said. “Northern California’s technology clusters, including the city of Davis, have seen these businesses’ remarkable ability to generate economic growth and jobs.

“However, there is a ‘valley of death,’ a slew of barriers that prevent an idea from becoming a profitable product, and foremost among these is stable financing,” he continued. “The Innovative Technologies Investment Incentive Act helps small businesses overcome these challenges and turbocharge America’s job creation machine.”

Added Rep. Chris Van Hollen, D-Md., “As our economy continues to recover, the Innovative Technologies Investment Incentive Act will provide an important boost to America’s most innovative small companies at a time when that boost is needed most. Putting Americans back to work is our number one priority.

“This pro-growth initiative — modeled after the highly successful Maryland Biotechnology Investment Incentive Tax Credit and similar legislation in other states — will leverage private capital to create good-paying jobs, reward innovation and lay the foundation for our future prosperity,” Van Hollen continued.

Joining Garamendi and Van Hollen in introducing the legislation are Reps. Betty McCollum, D-Minn.; Jared Polis, D-Colo.; Dutch Ruppersberger, D-Md.; and Allyson Schwartz, D-Pa.

Colorado’s growing clean energy industry is an essential part of our economy and incentivizing investment is a great way to spur further innovation and job creation,” Polis said. “I am proud to work with my colleagues to replicate this successful program so that innovative companies across the country can benefit from the same incentives that have proven effective in Maryland.”

Added Ruppersberger, “In Maryland, the growing life sciences sector — which includes many small biotechnology firms — has generated one-third of all job gains over the past decade and this bill will enable them to expand and hire even more. It’s exactly the type of common-sense jobs bill that lawmakers should be focused on right now.”

The Innovative Technologies Investment Incentive Act will:

* Accelerate innovation by providing a 25 percent tax credit for qualified equity investments in eligible high technology and biotechnology small business concerns;

* Invest in quality by directing credit-qualified investments only to those small businesses that have met the federal government’s rigorous requirements for receiving Small Business Innovation Research grant awards;

* Control costs by establishing a per-company cap for the innovative technology investment credit at half the value of the receiving company’s SBIR award and an initial program cap of $500 million; and

* Reward long-term investment by requiring a holding period of at least three years for qualified investments.

Comments

comments

Enterprise staff

  • Recent Posts

  • Enter your email address to subscribe to this newspaper and receive notifications of new articles by email.

  • .

    News

    GPAS and test scores up for UCD’s newest undergrads

    By Julia Ann Easley | From Page: A1

     
    Million Cat Challenge aims to rescue shelter felines

    By Pat Bailey | From Page: A1 | Gallery

     
    Everest visit fulfills judge’s lifelong dream

    By Lauren Keene | From Page: A1 | Gallery

    Supervisors remove Saylor from First 5 Yolo Commission

    By Anne Ternus-Bellamy | From Page: A1

     
    Water officials fret over rain’s effects

    By The Associated Press | From Page: A2 | Gallery

    Bob Dunning: Not enough hours in the month

    By Bob Dunning | From Page: A2

     
    Fatal Capay crash leads to driver’s arrest

    By Lauren Keene | From Page: A2

    U.S., Cuba seek to normalize relations

    By The Associated Press | From Page: A2

     
    Donate to STEAC at Original Steve’s

    By Enterprise staff | From Page: A3

    Beer and film tour boosts bike group’s coffers

    By Enterprise staff | From Page: A3

     
    Yolo Crisis Nursery in full swing

    By Special to The Enterprise | From Page: A3

     
    Creative women share food, friendship

    By Enterprise staff | From Page: A3

    Pedal around Davis on weekly bike ride

    By Enterprise staff | From Page: A3

     
    Overeaters get support at meetings

    By Enterprise staff | From Page: A4

    Fibro Friends will update their journals

    By Enterprise staff | From Page: A4

     
    Input sought on county’s facility needs

    By Special to The Enterprise | From Page: A4

    Traditional carols service is Saturday at St. Martin’s

    By Enterprise staff | From Page: A4

     
    Have coffee with the mayor on Friday

    By Enterprise staff | From Page: A4

    Stockings brighten holidays for special kids

    By Enterprise staff | From Page: A4 | Gallery

     
    Evening tai chi classes start Jan. 6

    By Enterprise staff | From Page: A4

     
    Name Droppers: Law prof earns peace prize for nonfiction

    By Enterprise staff | From Page: A5 | Gallery

    Community menorah lighting set Wednesday

    By Enterprise staff | From Page: A5

     
    Latest immunization data shows little improvement locally

    By Anne Ternus-Bellamy | From Page: A5

    School board will vote on repairs, new portables

    By Jeff Hudson | From Page: A6

     
    Study: National monument could boost local economy

    By Special to The Enterprise | From Page: A6

    Round up at the registers for Patwin

    By Enterprise staff | From Page: A7

     
    Parent/toddler art and music program offered

    By Enterprise staff | From Page: A7

    Libraries will be closed around the holidays

    By Enterprise staff | From Page: A7

     
    Cloudy — yet safe — tap water adds to negative health effects

    By Special to The Enterprise | From Page: A7

    Come Worship with Us

    By Special to The Enterprise | From Page: A10

     
    .

    Forum

    This ought to teach her love

    By Creators Syndicate | From Page: B5

     
    Defying Western academic norms

    By Letters to the Editor | From Page: A8

    Boycotters are our future profs

    By Letters to the Editor | From Page: A8

     
    Many thanks to The Avid Reader

    By Letters to the Editor | From Page: A8

    Language failed me that night, but not now

    By New York Times News Service | From Page: A8

     
    Steve Sack cartoon

    By Debbie Davis | From Page: A8

    Grand jury function clarified

    By Letters to the Editor | From Page: A8

     
    .

    Sports

    UCD reveals a challenging softball schedule

    By Enterprise staff | From Page: B1 | Gallery

     
    Tumey talks about state of Aggie athletics, where they’re headed

    By Bruce Gallaudet | From Page: B1 | Gallery

    Davis gets Rio Linda as Curry Invitational starts Thursday

    By Bruce Gallaudet | From Page: B1 | Gallery

     
    Sports briefs: Former Aggie Descalso inks deal with Colorado

    By Staff and wire reports | From Page: B8

     
    Westbrook, Durant lead Thunder past Kings

    By The Associated Press | From Page: B8 | Gallery

    .

    Features

    Some vegetables just can’t be beet

    By Julie Cross | From Page: A9 | Gallery

     
    .

    Arts

    .

    Business

    .

    Obituaries

    Rena Sylvia Smilkstein

    By Special to The Enterprise | From Page: A4

     
    .

    Comics

    Comics: Wednesday, December 17, 2014

    By Creator | From Page: B6