Economic Development Corp. expands KC Biotechnology Center
CRB and Bank Midwest will receive Missouri tax credits equaling 50 percent of their donations. The Missouri Development Finance Board issued credits for the project’s tenant finish, and the Missouri Department of Economic Development issued credits to equip the space, which is essentially a large laboratory space. “Since the EDC has a 501(c)3 charitable foundation, (Bank Midwest and CRB) also get to take a federal tax deduction,” Franano said. “It helps them make the largest possible donation to the project.” The EDC announced the creation of the specially equipped Kansas City Biotechnology Center in August 2006. It was launched as a means of retaining early-stage, rapidly growing companies developing pharmaceuticals, medical devices, and research and diagnostic equipment. <a href=”http://www.bizjournals.com/kansascity/stories/2008/06/23/daily31.html” target=”_blank” rel=”nofollow”>more</a>
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