Will Illinois ignite a biotech boom?
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by supporting policies that incentivize investment in bioscience firms.

First, lawmakers must pass Senate Bill 1522. This bill provides help for small companies which create the most new high-paying jobs. It uses programs proved effective in other states, states which are now luring our best startups and entrepreneurs out of Illinois. This bill was passed unanimously by the Senate and enjoys cosponsorship by more than 25 percent of the House.

Second, lawmakers must extend the Technology Development Fund through new authorizations under the Technology Development Act. Several bills, each passed by the Senate, are now before the House. This bill requires that a portion of state investments in developing companies be made here in Illinois. It’s a bet on our own people, and it’s a good bet.

As our nation moves past this economic rough patch, biotech will be an essential source of the jobs and innovation needed to reinvigorate our economy and keep it humming. Lawmakers need to recognize the broader importance of biotech, and do what they can to make sure it continues to flourish here in Illinois.

David Miller is the president and CEO of the Illinois Biotechnology Industry Organization (iBIO), headquartered in Chicago.