Maryland dot gov
Office of Governor
Skip navigation links
Home
About Us
Business Assistance
Funding
News & Events
Facts & Maps
Resources

Biotechnology Investment Incentive Tax Credit

Maryland’s Biotechnology Investment Incentive Tax Credit (BIITC), created to assist the state’s early stage life sciences companies raise funding, is one of the most generous programs of its kind in the country. The program provides refundable income tax credits equal to 50% of an eligible investment to investors in qualified Maryland biotechnology companies (QMBCs). Although recipient companies must be based in Maryland, investors from outside the State (including outside the U.S) are encouraged.

Investments from $25,000 to $500,000 per individual investor are eligible, with a company limit of 15% of the annual budgeted credit amount ($1,800,000 of credit per company in FY2016 [July 1, 2015 - June 30, 2016]). To date, 75 companies have taken advantage of the program, receiving $69M in credits and later $450M+ in follow on investment.

 

Contact the Office | Accessibility | Privacy Note   
9600 Gudelsky Drive, Rockville, MD 20850 240-314-6171   
401 East Pratt Street, 7th Floor, Baltimore, MD 21202 410-767-0505