Archives from day » 17, September 2009

CAPCO Programs Offer Tax Credits to Attract Venture Capital for Small Business

The Journal of Multistate Taxation and Incentives discusses in-depth the importance of CAPCO programs and its success in economic development:

The “certified capital company” (CAPCO) program provides a framework for states to foster local entrepreneurship and lends itself to modifications in response to industry trends, thus giving states a new tool with which to address the priorities of the small-business sector and the states own economic development goals.

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Tech Leaders Pushing CAPCO Legislation

Lynne W. Jeter reports in the Mississippi Business Journal that state technology leaders are lobbying for CAPCO legislation to be adopted:

State technology leaders are lobbying legislators to adopt CAPCO (certified capital companies) legislation in 2004 to spur capital investment in Mississippi and to move the state toward increased access to risk capital. If passed, CAPCO legislation would provide incentives in the form of insurance premium tax credits to boost investment in the state.

“The single greatest need that we hear our state`s start-up and early stage small businesses cry out for is investment capital,” said Mississippi Technology Alliance (MTA) president and CEO Andy Taggart. “We have a wealth of terrific ideas, inventions, innovations, and the like, but we have a real dearth of dollars in our state to chase the deals arising out of all that valuable intellectual property. CAPCO legislation would create a $100-million pool of investment capital in our state to go to work in our state, and we believe the results would be the rapid growth of the innovation economy of Mississippi.”

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