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Pennsylvania government officials are continuing to strengthen their state R&D tax credit and, in turn, the local economy. After increasing the state's R&D fund to $55 million for 2010, an expanded fund of $75 million has been proposed for the next budget cycle. Various Pennsylvania industries, with a significant emphasis on manufacturing, are truly benefiting from the credit. According to a Central Pennsylvania Business Journal article, “More than 54 percent of the 2010 credits went to manufacturers, claiming more than 66 percent of the total pool of credit funds,” the department said. “Pharmaceutical manufacturers claimed the largest single share at $6.2 million.”
Read the full article on Pennsylvania's R&D tax credit.
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