• WisBusiness

Wednesday, June 29, 2011

 12:45 PM 

Illinois gov seizes BIO award for investment policies

Only a day after Gov. Scott Walker renewed his support for moving ahead with a state-backed venture fund in Wisconsin, Illinois Gov. Pat Quinn was named "governor of the year'' by the BIO International organization for his support of biotech tax credits to help early stage biotechnology companies become successful companies and employers in Illinois.

Quinn spearheaded a number of programs to increase Illinois' economic, scientific and and technological output through programs such as the Illinois Angel Investment Tax Credit and the Illinois Small Business Job Creation tax credit, noted BIO President Jim Greenwood. In large part, the Illinois tax credit program is based on a successful angel investor tax program in Wisconsin.

"His funding and support of biotech tax credits is a model for federal legislation that supports early-stage capital formation,'' Greenwood said.

"I believe the key to our economic recovery lies in investment in innovative industries, such as the biotech sector,'' Quinn said in accepting the award today at BIO International.

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