Left to Right: State Reps. Rachel Hood (D-Grand Rapids), Jasper Martus (D-Flint), Ranjeev Puri (D-Canton) and Julie Rogers (D-Kalamazoo) stand with their bills introducing economic development legislation on the floor of the Michigan House of Representatives on Oct. 4, 2023.
LANSING, Mich., Oct. 6, 2023 — State Rep. Julie M. Rogers (D-Kalamazoo) recently introduced House Bill 5101 as part of a legislative package aimed at increasing investments in research and development in Michigan. Rogers, co-chair of the Biosciences Caucus, has been working with her colleagues to implement policies to support investment in emerging technologies. This legislation would create a refundable tax credit for businesses with fewer than 250 employees who drive innovation by conducting research and development (R&D) into promising products and processes. Thirty-six other states incentivize R&D via tax credits targeted at these important investments, and Michigan cannot be left behind. Supporting and incentivizing investment in science, technology and engineering drives entrepreneurship and growth in high-wage employment opportunities and retains small businesses working in these spaces. Rep. Rogers issued the following statement in support of the package:
“The proposed R&D tax credits in Michigan are necessary to keep our state competitive nationally and internationally. Small businesses conducting innovative research need long-term stability for planning multiyear investments. This package is forward-thinking and designed to provide the support necessary for long-term investments in the rewarding but often cost-prohibitive research into new science and engineering projects. Importantly, this bill creates the environment necessary for the development of regional hubs that drive technological advancement and economic growth.”
Supporters of this legislation include Anna Langerveld, Ph.D., president and CEO of Genemarkers, an innovative business engaged in cutting-edge developments in pharmacogenomics.
“I fully support state Rep. Julie Rogers’ bill, as part of a comprehensive legislative package, to increase investments in research and development in Michigan. Her bill presents an opportunity to not only retain existing small businesses but also attract new businesses looking to thrive in a supportive and innovative ecosystem. I urge my colleagues to join me in supporting this critical legislation, as it will pave the way for Michigan to become a leader in cutting-edge research, technology and economic prosperity,” Langerveld said.