Delaware passes Job Creation and Innovation Act

Earlier this month, the Delaware General Assembly passed the Job Creation and Innovation Act for Small Technology Companies. This legislation will allow angel investors to provide capital to startup companies in the innovative science or high-tech fields.

The act will supply 25% in tax credit to angel investors who provide more than $10,000 to a Delaware-based science and technology company.

“As advocates for the bioscience community, we are thrilled with the creation of the angel investor tax credit,” said Helen Stimson, President and CEO of Delaware Bio, in a press release. “This will help Delaware’s existing innovative businesses grow, as well as attract new startups to locate here. The First State has one of the most robust R&D tax credits in the nation. When you consider the federal R&D tax credit and the angel investor tax credit, Delaware entrepreneurs can now access a true trifecta of benefits.”

Delaware was ranked the 5th best state in the U.S. to launch a business in 2016, according GoBankingRates.com. This legislation will make Delaware friendlier to companies that are in their initial stages.