RALEIGH — The measure, known as the Life Sciences Development Act (House Bill 530), would establish a private limited liability company to make taxpayer-funded loans of up to $30 million each to biotech companies. To underwrite the loans, the Life Sciences Development company would sell equity certificates (similar to shares of ownership) to investors.
RALEIGH — Despite some heavy lobbying in the final days of this year’s legislative session, state lawmakers left Raleigh without taking final action on the Life Sciences Development Act. That is good news to Jason Kay, senior staff attorney at the N.C. Institute for Constitutional Law. He discussed the LSD Act with Mitch Kokai for Carolina Journal Radio.
News reporting confirms what has been said before in this space: biotechnology is a promising and exciting industry, but its economic-development impact is likely being hyped.
The political classes in North Carolina and many other states seem convinced that biotechnology is the Next Big Thing in economic development. Hope they don’t mind waiting in lines.
