Biotech's bonanza - Page 3

Is the local business tax exemption for this thriving industry worth the cost?

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Allopartis Biotechnologies in Mission Bay is exempt from paying payroll taxes for its six employees
GUARDIAN PHOTO BY ADAM LESSER

Newsom has been vague about whether he accepts that tradeoff or even understands its implications to city coffers and the local economy. Newsom Press Secretary Tony Winnicker recently told us, "He thinks it's good policy to spur private sector job growth."

Later, he added: "While not every company has taken advantage of it, we feel extending it sends the right message,"