State should expand Angel Investment Tax Credit program

    NanoMedex will be a great addition to the business community in Dane County and Wisconsin. Their innovative method of making fat-soluble pharmaceuticals easier for people to take has broad application and unlimited potential.

    NanoMedex’s statement that the Angel Investment Tax Credit gave them the incentive they needed to move to Wisconsin from Florida is proof that Act 255 is working.

    In January, I will reintroduce the expansion of the tax credit I proposed last session.

    New industries are being formed in Wisconsin and new investment money is coming into the state, all because of the Angel Investment Tax Credit. Early stage investments in Wisconsin continued its record growth in 2007, totaling $147 million. The 43 percent increase from the previous year in Wisconsin is remarkable compared to the national average, which was 1.8-percent growth.

    Hopefully, the Senate Democrats will not stand in the way of the expanding the Angel Investment Tax Credit the way they did last session. Investing more state money into successful programs is just good business.

    In the meantime, I want to welcome the officers and employees of NanoMedex to Wisconsin and invite them to take advantage of all that this great state has to offer.

     

    State Sen. Ted Kanavas (R-Brookfield) represents Wisconsin’s 33rd Senate District.

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