Civil Engineering Reference
In-Depth Information
3.8 State Efforts in Life Sciences
Both Missouri and Kansas have been committed to the development of a com-
prehensive network to support research, facilitate commercialization, and to pro-
mote the adoption of new technologies.
3.8.1 Missouri
In order to induce existing businesses to increase their research efforts, businesses
are permitted to claim a tax credit equal to 6.5 % of the excess of qualified
research expenses during the tax year, over the average amount of qualified
research expenses incurred in Missouri during the preceding three tax years. The
credit may be carried forward for up to five additional years.
New Enterprise Creation Act
The New Enterprise Creation Act is intended to generate investment for new,
startup Missouri businesses that have not developed to the point where they can
successfully attract conventional financing or significant venture capital from later
stage funds.
Certified Capital Companies
A Certified Capital Company (CAPCO) may invest in an eligible business, which
is in need of venture capital and cannot obtain conventional financing. The eligible
businesses must derive their revenue primarily from manufacturing, processing or
assembling or products, conducting research and development, or, service busi-
nesses, which can demonstrate that more than 33 % of its revenue would be from
outside the state of Missouri.
3.8.2 Kansas
In Kansas, two state organizations are instrumental in the development of new
technology: The Kansas Technology Enterprise Corporation, which works with
start-up technology ventures and the Kansas Bioscience Authority, which works
with bioscience companies investing in Kansas.
The Kansas Bioscience Authority was created by the Kansas Economic Growth
Act of 2004 which established a funding engine that will generate more than
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