Ten biotechnology companies in Montgomery County last year received almost $6 million from investors who were spurred by the state and county’s biotech investment tax credit programs, officials said Monday.
The county’s program, which received its initial funding this fiscal year after being approved by the County Council in 2010, is the first such local one for biotechs in the nation, said Montgomery County Executive Isiah Leggett (D) during a news conference at the Rockville headquarters of biotech Sequella. Officials approved $500,000 in fiscal 2012 and another $500,000 for fiscal ’13, which starts July 1.