Biotech tax break expanded 

In a 9-2 vote the Board of Supervisors approved legislation allowing new biotech companies to apply until 2014 for a 1.5 payroll tax break that would last for 7½ years. Before the passage of the bill, a biotech company that was granted the tax break would enjoy the tax relief for just four years. It’s thought it takes seven years for a biotech company to establish itself.

The legislation was introduced by Supervisor Michela Alioto-Pier. It was opposed by Supervisors Chris Daly and John Avalos. Avalos said it was a “slippery slope” and thought it was a bad policy approach. He also said The City has already invested so much making biotech companies welcome in San Francisco, such as in the way of infrastructure.

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