Indianapolis, Ind.--Today, Joe Donnelly visited Xylogenics to learn about their work with a strain of yeast that accelerates the production of cellulosic ethanol and unveil his plan to put Hoosiers to work and get our economy back on track. He chose to visit Xylogenics to highlight one element of his six-point plan: Cutting Taxes for Indiana Job Creators.
“There is no more pressing issue than job creation, and we need to cut taxes for Indiana businesses, large and small, that create jobs in our communities,” said Donnelly. “I support making the research and development tax credit permanent so Hoosier entrepreneurs like Dr. Heyen at Xylogenics have incentives to keep their innovations here at home. We also should enhanced expensing tax credit permanent, so small businesses would be able to write off up to $250,000 in qualified investment for capital expenditures such as machinery, equipment, and software. I also support providing incentives to companies that in-source rural jobs rather than shipping them overseas.”
Dr. Josh Heyen, president and CEO of Xylogenics, said, "Xylogenics has developed and is in the process of developing strains of yeast that decrease the cost of producing both starch (1st generation) and cellulosic (2nd generation) derived biofuels. Xylogenics was started in 2009 with over 80% of its efforts focused on research and development of its yeast strains. In an economic environment where financing opportunities are sparse, the research and development tax credit is especially important to biotech start-ups that require longer runways to generate revenue than IT or more traditional companies."
Donnelly’s plan also includes provisions to protect American jobs through a trade policy that works for Indiana, not China; go all-in on American energy production to create jobs and keep our dollars at home; invest in Indiana roads and bridges; and give workers the skills they need to compete. He has an overarching belief that this must be achieved while living within our means and has plans to address the debt crisis.
Donnelly will visit with employees of BF Goodrich and the Dana Corporation in Fort Wayne this afternoon to talk about protecting the good jobs we have now by leveling the playing field for American manufacturers. He will visit Terre Haute, Evansville, and New Albany tomorrow. To read Joe’s full jobs plan, visit www.joeforindiana/jobs.