Weekly Policy Blog: Colorado BioScience Political Action Committee Fuels Policy + Advocacy Engagement and Impact
By: Colorado BioScience Association Date: 09/09/2022
The Colorado BioScience Political Action Committee (CBSA PAC), a bipartisan state political action committee, provides opportunities to educate candidates for the state legislature about our life sciences community and increase awareness of our industry sector’s goals. The CBSA team keeps candidates informed about the issues critical to our industry, the global impact of life-saving innovations from Colorado, and the contributions we make to advance the state’s economy through company and job creation. The CBSA PAC supports those candidates who will help our ecosystem thrive.
The CBSA PAC is a critical component of our political engagement, helping to advance the policy priorities and interests of our life sciences industry. We encourage you to contribute funds so we can continue to help ensure that candidates understand and appreciate what matters to our community.
If you have already donated to the CBSA PAC this cycle, thank you. We appreciate your support and commitment to growing life sciences in Colorado.
CBSA’s PAC and Policy Impact
Political engagement is all about relationships, and CBSA PAC donations provide opportunities to support candidates who are or would be champions for our industry’s goals. It matters who is in office, and we need your involvement to ensure pro-business, pro-innovation candidates are elected.
In 2022, year to date, the CBSA PAC has had a very meaningful impact on both sides of the aisle, giving to 28 candidates.
CBSA’s Policy + Advocacy team works year-round to represent life sciences at the State Capitol. We advocate for programs including the Advanced Industry Investment Tax Credit and the Advanced Industry Accelerator Grant program. Recently, our effective voice at the State Capitol recently has resulted in:
Colorado’s Advanced Industries Accelerator Grant program provides critical funding for start-up and mid-stage companies. In 2021, CBSA led the way in a victory for our life sciences ecosystem. The state legislature passed Senate Bill 42, which included a one-time, $10 million infusion for the program following funding cuts during the 2020 budget shortfall. The program provided $8 million in non-dilutive grants to 31 life sciences companies and university researchers in 2021.
The Advanced Industries Investment Tax Credit supports access to capital for companies in Colorado’s designated Advanced Industries, including life sciences. In 2022, CBSA Policy + Advocacy team led advocacy efforts to reauthorize the program. The successful lobbying effort resulted in a four-year reauthorization, and a 433% increase in program funding to $4 million annually. The tax credit has been an invaluable incentive for companies to attract angel investors along with increasing the state’s national economic competitiveness and viability. Since inception, the program’s success metrics for life sciences alone has encouraged 97 investors to devote $7,164,075 to 24 bioscience companies.
Any dollar amount that you and/or your company can give supports CBSA’s work to build a pro-business environment for life sciences innovation. With your donation, we can deepen relationships with elected leaders and help them understand the impact and innovation taking place in their districts. Your contribution helps us advance our community’s interests.
* Colorado campaign finance laws permit contributions to the Colorado BioScience Political Committee of up to $625 per two-year election cycle from both corporations and individuals. This contribution is non-deductible.