Biotech
California has a history of leading innovations in life-saving biomedical technologies. At over $5.3 billion annually, California institutions lead the nation in National Institutes of Health (NIH) funding.1.
California’s life sciences industry directly employs 466,888 workers and generates over $414 billion in annual economic output.1. More bioscience and biotechnology patents are issued to California companies and researchers than any other state. California leads across the board in patent generation, accounting for 40 percent of U.S. life sciences patents filed in 2023.2.
California life science companies raised over $34.1 billion in VC investment in 2023, far more than any other state.2. These investments keep California at the forefront of biotech innovation.
Popular Programs
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. National Institutes of Health (NIH)
2. Biocom California