RYE, N.Y., Feb. 3, 2011 /PRNewswire/ — Curemark, LLC,
(www.curemark.com), a drug
research and development company focused on the treatment of
neurological diseases, recently hosted New York Senator Kirsten
Gillibrand as she announced a new proposal to spur innovation and
job creation, locally and nationally. Speaking at Curemark,
which is developing an autism treatment, Senator Gillibrand
detailed a new proposal to expand, simplify and make permanent the
Research and Development tax credit.
More than 2,000 New York companies could take advantage of the
R&D credit, which if it is made permanent, could increase
private investment in R&D by more than $7.5 billion across the
country, according to Senator Gillibrand.
“My number one focus is on creating good-paying,
family-supporting jobs. By supporting research and
development, we can help our businesses become more competitive and
create the high tech jobs of tomorrow,” Senator Gillibrand said.
“New York is already home to the universities, businesses,
laboratories, researchers and the bright minds we need for
long-term economic strength. This proposal would leverage more
private investment in our high-tech sector, creating good-paying
jobs.”
“As the CEO of a biotechnology company, Senator Gillibrand’s
initiative is extremely important to us,” said Dr. Joan Fallon,
Curemark founder and CEO. “By supporting cutting edge
research in the biotechnology field, and thus allowing for
innovation, these R&D tax credits will help to defray the costs
of basic research and clinical programs, which can be prohibitive
to the small biotech companies. We at Curemark are extremely
grateful for the Senator’s leadership on this issue.”
Senator Gillibrand’s proposal would expand the current credit by
changing the formula to provide greater incentive for companies
such as Curemark to increas
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