DENVER--(BUSINESS WIRE)--The Colorado BioScience Association (CBSA) applauds the signing of The Colorado Advanced Industries Acceleration Act (HB 1001) by Gov. John Hickenlooper today at the University of Northern Colorado in Greeley. The announcement is made by CBSA President & CEO April Giles who explains the bill was the first of the session in January 2013, sponsored by Senator Rollie Heath (D-Boulder) and President-designate John Morse (D-Colorado Springs).
“We need to build on areas in which we excel. Colorado is poised to grow in high-tech sectors. Our businesses, schools, and labs are already on the global forefront of technology. Investing in them is smart for our overall economy,” Senator Heath said about the legislation.
The Advanced Industries Acceleration Act is designed to grow all the high-tech sectors in Colorado including:
- Advanced manufacturing
- Aerospace
- Bioscience
- Electronics
- Energy and natural resources
- Engineering
- Information technology
This bipartisan legislation creates the Advanced Industries Acceleration Grant program in the Colorado Office of Economic Development and International Trade. Colorado-based advanced-industry sectors would be eligible for proof-of-concept grants, capped at $150,000; early stage capital and retention grants, capped at $250,000, and infrastructure grants, capped at $500,000. This economic-development grant program builds upon the Bioscience Discovery Evaluation Grant Program (BDEGP) created in 2006 by the Colorado General Assembly to grow the bioscience industry in the state.
Further Giles says, “We are very supportive of the expansion of the bioscience grant program through this legislation, as it will fuel the state’s economy across six additional industries. We have seen the economic impact the BDEGP program has created for the bioscience industry and look forward to seeing the growth across the other sectors as well.”
The complete Bill is available at: http://www.billtrack50.com/BillDetail/299456
About Colorado BioScience Association
Celebrating ten years of supporting the Bioscience Industry in Colorado in 2013, the CBSA is a not-for-profit organization providing services and support for Colorado's bioscience industry. With more than 350 members, CBSA actively works to promote the growth of the industry by advocating for a better business environment, growing the state's biotech workforce, fighting for policies that support a strong bioscience industry in the state, and speaking with a single voice on behalf of the industry. For more information, visit http://www.cobioscience.com.
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