15 Jul Legislator says company's exodus shows need for 'angel investor' tax credit
A Minnesota lawmaker who strongly supported legislation that would have granted tax credits to “angel investors” — those affluent individuals who invest up to $300,000 in high-tech startup companies — pointed to the planned exodus of Minneapolis biotech firm VitalMedix as strong proof that the state is in desperate need of such a law.
The company, VitalMedix, is negotiating leases and plans to move its operations across the border to either Hudson or New Richmond, Wis., within 90 days, its CEO and founder told Finance and Commerce in today’s edition.
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