Can Minnesota finally pass an angel investment tax credit? Is this a trick question?
MINNEAPOLIS, Minnesota — Something was missing at the annual LifeScience Alley conference Wednesday. And no, I’m not referring to venture capital money. For the past two years, the Minnesota House committee that oversees bioscience development held a special hearing on why Minnesota needs an angel investor tax credit to boost high tech companies. And for the past two years, nothing happened. But there was no such meeting this year, partly because it would cost the cash-strapped state $3,000 to convene one. Or maybe committee chair Tim Mahoney (DFL-St. Paul) doesn’t want to jinx what supporters say is the best chance in years the credit will pass.Advertisement “I’m the most optimistic I’ve ever been about this,” said Mahoney, a self-described “recovering socialist.” Peter Bianco, director of life science business development at Halleland Health Consulting in Minneapolis, is also feeling lucky. Given Minnesota’s weak economy, an investment tax credit could jump start the state’s high tec
