Working to build a bigger and more connected biotech hub in the LA region.
Our priorities in the greater Los Angeles region include identifying land for future life science developments, accessibility and reliability of utilities, and reducing business tax burdens where appropriate. We also engage on traditional business issues such as enhancing transit systems and availability of middle-income housing.
Gross Receipts Tax
Gross receipts tax the total amount a company receives from all sources, without subtracting expenses or considering whether the company has a commercialized product. These taxes disproportionately impact companies with low or no profit margins such as small and mid-sized life sciences.
It is common knowledge that there is a housing shortage in the Los Angeles area – the median price of a single-family home is $795,000. This represents an increase of 12% over the previous year. Biocom California supports incentivizing the building of additional middle income housing units via a variety of approaches to accommodate our diverse and growing life science workforce.
In regional markets throughout California, land available for life science development is scarce. Preserving industrial land for manufacturing, research and development (R&D), and distribution is vital to long-term industry stability and growth. We also encourage local governments to identify and incentivize physical areas for life science establishments where appropriate.
Transportation is a key element in the quality of life in LA County, impacting the ability of employees to commute from work in a reasonable time as well as the ability of companies to attract the necessary workforce and transport goods and products. Investment in transportation infrastructure is critical for LA’s future growth and population needs.
Biocom California supports a robust talent pipeline to fuel the life science industry in Los Angeles. Biocom California sits on the City of Los Angeles Workforce Development Board (LAWDB), to educate and advocate for workforce development efforts that will support our industry.
Biocom California’s Greater Los Angeles Policy Committee meets on an ad-hoc basis to address policy issues in the LA region at the city and county level.