정책동향
Economic Impact of Flow-Through Shares in Biotechnology Industry
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2010-09-14
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http://www.biotech.ca
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economic_impact_of_flow-through_shares_in_biotechnology_ind...
Economic Impact of Flow -Through Shares in Biotechnology Industry
Executive Summary
Background
The biotechnology (biotech) sector, as one of Canada’s leading knowledge-based sectors, has the potential to be an important driver of the Canadian economy. A key challenge now facing the biotech industry is the need to commercialize the research currently flowing from the industry.
Research on the federal government’s flow-through shares program in the mining and petroleum sectors has shown it to be an effective means of providing needed risk capital to junior mining and petroleum companies. BIOTECanada recommends the extension of the applicability of flow-through shares to Canada’s biotech sector.
Objective of Study
The objective of this study is to provide, where possible, quantitative estimates of the incremental R&D nd the resultant incremental economic and fiscal impacts, expected to flow from the extension of the pplicability of flow-through shares to Canada’s biotech sector.
In terms of the economic and financial modeling and quantification, this study estimates the economic nd fiscal impacts from the incremental “operational” expenditures on R&D resulting from the application f flow-through shares to Canada’s biotech industry. This is a major, but certainly not exclusive, source f economic benefits from the program. To be specific, this study estimates at a high level the direct, ndirect and induced economic impacts of the increase in expenditures on R&D due to the extension of he flow-through share program to the biotech sector.
Results
The following table shows the gross output, value added (GDP), wages and salaries, employment and overnment tax revenue (income taxes and direct and indirect taxes on production and consumption) ssociated with a 69.5% increase in junior biotech R&D expenditures. This value was taken from the xperience of the mining and petroleum industries and it is assumed that these industries represent good roxies for the biotech sector resulting from similarities in their risk profiles.
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