The state’s expanded credit is now among the more generous incentives nationwide.
Eric Ostertag is the kind of entrepreneur states love.
A physician with a doctorate in molecular biology, Ostertag has launched three ventures: Transposagen, a genetic engineering company; Vindico Pharmaceuticals, which specializes in nanotechnology; and Hera Testing Laboratories, Inc., another biotechnology firm.
The companies began in Philadelphia, but all three are now based in Lexington, Kentucky. The state offered Ostertag a matching grant for high-tech companies that win federal Small Business Innovation Research awards. “I moved my companies because of the incentives,” Ostertag said.
Now the state is offering Ostertag’s investors an incentive too: a generous new tax credit for “angel” investors who invest in Kentucky-based small businesses.
Anne Kim 