Singleton, Benson, Eustace & Chivukula Bill to Spur Investment in NJ Biotechnology Businesses Clears Assembly Panel
Measure, Part of Assembly Democratic Job Creation Initiative, Would Extend Tax Credits to Help Attract Biotechnology Companies to New Jersey
(TRENTON) – An Assembly panel on Tuesday released legislation sponsored by Assembly Democrats Troy Singleton, Daniel Benson, Tim Eustace and Upendra J. Chivukula that would extend tax credits to stimulate investment in biotechnology businesses in the state.
“The biotechnology industry in New Jersey is growing, but lacks the needed private investment to support this growth,” said Singleton (D-Burlington). “This bill will help incentivize investment, promote New Jersey as a biotechnology business location and encourage biotechnology business cluster development in New Jersey to push the state ahead of the competition.”