State Approves Tax Credit to Columbia Life Science Incubator

4 years 1 month 2 weeks ago Friday, August 09 2013 Aug 9, 2013 Friday, August 09, 2013 4:24:00 PM CDT August 09, 2013 in News
By: Yuqing Pan, KOMU 8 Reporter
loading

COLUMBIA - The Life Science Business Incubator Center (LSBIC) in Columbia may serve more companies with a tax credit recently approved by the Missouri Department of Economic Development.

The state approved a $500,000 tax credit for six small business incubators around the state. The LSBIC will receive $122,148, which is the second largest amount.

Jake Halliday, CEO and President of the LSBIC, said the tax credit is granted to private entities as incentive to continue donating to the incubator.

"We need to raise private donations to build the remaining 4,000 square feet of this facility. When we build, we will be able to accommodate five, seven, eight more companies in that building," Halliday said.

The state is monitoring the performance of each incubator, he said, and the LSBIC had generated the results it wanted.

"In the last twelve months, the companies in this incubator have attracted almost 12 million dollars, in investment and in other federal grants for their research and development. Forty one jobs have been created," Halliday said.

"We have companies here who have moved from other parts of the United State and, in fact, from around the world, and chosen Columbia, Missouri, as their U.S. headquarters," Halliday said.

An Australian company is scheduled to visit soon, he said.

The LSBIC is home to 25 start-up high-tech companies.

About three years ago, Dr. Kenneth Gruber moved his biotech company Tensive Controls, Inc. from North Carolina into the LSBIC.

Gruber said it is very expensive for a company to build an animal facility for research by itself. He said while many universities have business incubators, very few of them allow companies to access animal facilities.

"So I started searching on the Internet for an business incubator that allows us access to the animal facility. And one of the results popped up on my Google Search, was the Life Science Business Incubator in Columbia," Gruber said.

"I emailed Jake in the early afternoon in Labor Day and within two to three hours, I have a very positive response. And we were arranged to visit, to see whether it would be a fit for us," Gruber said.

He said this was the story he has told to many people, including to the state legislators.

Gruber said he and senior scientists have been working for years to make drug out of a compound called peptides. Gruber said peptide is short-lived, and their research is to make it long-lasting in human bodies. He said one primary use for the drug would be to treat cancer.

"It may not seem exciting to you, but to me, it's my life," senior scientist Tariq Shah said as he monitored the content of peptide on a computer screen.

"People may not want to give their money to companies in this building, but when they see what we are doing here, it will make more sense what a great thing it is," Shah said.

Gruber said the university veterinary clinic would conduct a trial of his drug in companion animals that have cancer. He said the dogs would be recruited from owners in the community.

Gruber said the company is going to the FDA in the fall with these drugs.

"To get their input of what they want see us finally do before they would give us what's called an ‘investigative new drug application approval', that we can then take into human studies," Gruber said.

Halliday said, "These companies have substantial researching development that must be completed before they are able to sell their product."

To apply for the LSBIC, Halliday said, a company must have an acceptable business plan and the possibility of 20 million of annual sales after five years.

For more information, visit LSBIC website.

 

More News

Grid
List
COLUMBIA - Jabberwocky Studios unveiled its second mural Sunday in Downtown Optimist Park. Jabberwocky is a local arts program... More >>
4 hours ago Sunday, September 24 2017 Sep 24, 2017 Sunday, September 24, 2017 4:47:00 AM CDT September 24, 2017 in News
COLUMBIA – Kerryon Johnson ran for five rushing touchdowns, including four in the first half, as the No. 15 Auburn... More >>
11 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 9:28:00 PM CDT September 23, 2017 in Sports
COLUMBIA - Bikers gathered in Centralia Saturday to show support for a young sexual assault survivor. At least 60... More >>
13 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 7:05:00 PM CDT September 23, 2017 in News
COLUMBIA - Cooper's Landing hosted the first Rock n' Roll River Festival Saturday, where families enjoyed food, a fun atmosphere... More >>
16 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 4:35:00 PM CDT September 23, 2017 in News
CAMDENTON - The goal of the seventh annual Lake of the Ozarks Air Show on Saturday was to salute veterans.... More >>
16 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 4:14:00 PM CDT September 23, 2017 in News
JEFFERSON CITY - The Central Missouri chapter of Parents of Murdered Children and Missouri Missing hosted a memorial picnic Saturday... More >>
17 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 3:55:00 PM CDT September 23, 2017 in Continuous News
JEFFERSON CITY - Missouri has one of the lowest enrollment rates when it comes to the 529 College Savings Plan.... More >>
17 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 3:28:00 PM CDT September 23, 2017 in News
COLUMBIA – Today MU, Auburn, Clemson and LSU are announcing their partnership in the U.S. Tiger University Consortium. Clemson president... More >>
17 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 3:16:00 PM CDT September 23, 2017 in Top Stories
EVERTON (AP) — Missouri school districts that adopted a four-day school week in recent years are not finding the savings... More >>
18 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 2:14:48 PM CDT September 23, 2017 in News
KANSAS CITY (AP) — A school district in Kansas City is praising a bus driver for safely getting 34 children... More >>
18 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 2:10:35 PM CDT September 23, 2017 in News
ST. LOUIS (AP) — An undercover police officer and an Air Force lieutenant were among the 120 people who were... More >>
18 hours ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 2:07:00 PM CDT September 23, 2017 in News
BOONE COUNTY - The Latter House Kingdom Ministries of Columbia will host their tenth annual Fall Festival today at the... More >>
1 day ago Saturday, September 23 2017 Sep 23, 2017 Saturday, September 23, 2017 7:59:00 AM CDT September 23, 2017 in News
ELDON - The people of Eldon are rallying around a family whose son suffered a spinal injury during football practice... More >>
1 day ago Friday, September 22 2017 Sep 22, 2017 Friday, September 22, 2017 7:31:00 PM CDT September 22, 2017 in News
COLUMBIA – A local gym held a fundraiser Friday night, and all it asked for was five minutes. But... More >>
1 day ago Friday, September 22 2017 Sep 22, 2017 Friday, September 22, 2017 7:03:00 PM CDT September 22, 2017 in News
BOONE COUNTY - One person is dead and three more are injured after a two vehicle crash on I-70. ... More >>
1 day ago Friday, September 22 2017 Sep 22, 2017 Friday, September 22, 2017 5:53:00 PM CDT September 22, 2017 in News
KANSAS CITY (AP) — Planned Parenthood is asking the U.S. Supreme Court to vacate an appeals court order that slowed... More >>
1 day ago Friday, September 22 2017 Sep 22, 2017 Friday, September 22, 2017 5:47:00 PM CDT September 22, 2017 in News
JEFFERSON CITY (AP) — Gov. Eric Greitens will begin his first trade mission Saturday when he and First Lady Sheena... More >>
1 day ago Friday, September 22 2017 Sep 22, 2017 Friday, September 22, 2017 5:20:15 PM CDT September 22, 2017 in News
COLUMBIA - Thirteen-year-old Jackson Morton was diagnosed with cancer in December 2016. "You can't even describe the emotion at... More >>
1 day ago Friday, September 22 2017 Sep 22, 2017 Friday, September 22, 2017 4:58:00 PM CDT September 22, 2017 in News
Columbia, MO
Broken Clouds 70°
9am 76°
10am 80°
11am 84°
12pm 87°

Select a station to view its upcoming schedule:

Coming Up Next

8:00a
Sunday TODAY with Willie Geist
9:00a
Meet the Press
10:00a
Give
8:30a
The Key of David
9:00a
Campmeeting
10:00a
Discover the Truth

Tonight's Schedule

6:00p
Football Night in America
7:20p
Sunday Night Football
6:00p
The Karate Kid III
8:00p
Marvel's Agents of S.H.I.E.L.D.
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Family Guy