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Texas Research Institutions Conducted Over 8,200 Clinical Trials of Medicines Since 1999
Date:3/25/2013

panies are an important source of jobs, tax revenue and research spending in Texas. The Texas Emerging Technology Fund (TETF) has invested over $130 million in pharmaceutical-related startups since 2005. That public investment in research and development is supported by the state's vast network of public universities and health-related institutions. In 2010, Texas public institutions of higher education invested more than $2.5 billion on medical and life sciences research, accounting for 61 percent of all higher education R&D expenditures in the state.

"We support R&D not only for the jobs it offers and the investment it brings, but also for the significant advancements in health care, pharmaceutical therapies and technology innovations that stand to benefit so many Texans and people around the world," said state Sen. Bob Deuell (R-Greenville). "That's why Texas needs to offer all businesses performing R&D some sort of smart-minded tax credit or incentive."

Texas lawmakers are currently considering proposed legislation that would allow all businesses performing R&D the option between a sales tax exemption on R&D equipment and a franchise or margins tax credit on R&D expenditures, including salaries. Many believe the legislation would give Texas a competitive edge.

"We must foster an environment in Texas that encourages this critical first phase of research and product development," said Rep. Jim Murphy (R-Houston).  "Quality studies that aim to quantify just how critical the R&D sector is to our larger economy and society – studies like this latest clinical trials research assessment – make it clear that we can and must do more to ensur
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SOURCE Pharmaceutical Research and Manufacturers of America (PhRMA); Texas Healthcare and Bioscience Institute (THBI)
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