Biotech

California has a history of leading innovations in life-saving biomedical technologies. We are the long-time home to the nation’s number 2 biomedical sciences research institution³ and at over $4 billion annually, California’s universities lead the US in earned National Institutes of Health grants².

California’s life sciences industry generates nearly 1 million direct and indirect jobs² and over $191 billion in annual revenue². More bioscience and biotechnology patents are issued to California companies and researchers than any other state. California leads the pack across the board for patent generation¹ from microbiology and genetics to bioinformatics and health IT – creating more than 2.5 times as many patents as the next ranking state¹.

California life science companies saw over $23B in venture capital investment from 2017 – 2019, more than any other state², and our businesses have 1,300+ therapies in the development pipeline². These investments keep California at the forefront of biotech innovation.

California Competes Tax Credit

The California Competes Tax Credit is an income tax credit available to businesses who want to relocate, stay, or grow in California. Our team provides no-cost consultations to see if your business qualifies.

Research & Development Tax Credit 

A business may qualify for an income tax credit if it paid for or incurred qualified research expenses while conducting qualified research activity in California. Qualified research expenses include wages, supplies, and contract research costs.

Employment Training Panel

The Employment Training Panel (ETP) provides funding to employers for training that upgrades the skills of their workers.

References
1. CSBA Resources and Reports
2. CA Life Sciences Association, “California Life Sciences 2023 Sector Report”