Michigan Business Network

Chris Holman welcomes Dr. Stephen Rapundalo, President and CEO, MichBio, Ann Arbor, MI. Dr. Stephen Rapundalo, President and CEO of MichBio, joined the Michigan Business Beat to discuss recent developments affecting Michigan's life sciences and biosciences industry. After a 15-year effort, Michigan reestablished a research and development tax credit, offering 10% for large companies and 15% for small businesses (250 employees or fewer), with an additional 5% available when R&D is outsourced to Michigan research universities — and importantly, the credit is refundable, providing cash back to pre-revenue companies. MichBio also led a delegation to Capitol Hill, meeting directly with seven or eight of Michigan's 15 members of Congress to discuss issues spanning tariffs and trade policy, NIH and FDA budget cuts, and business tax policy. Following the trip, MichBio surveyed its members to gauge the impact of these federal issues, and Rapundalo noted that companies began reporting immediate effects from tariff ann