NMBio: IN THE KNOW – MAY
I’ll start this month’s newsletter with a confession and an apology. This was originally intended to be my April newsletter. However, time passes quickly when preparing tax returns, recruiting new members and making strategic connections for existing members. So, it’s now a combined April-May newsletter.
I’ll follow my opening confession with a question: Are you taking advantage of one of our most popular member benefits? It is our array of valuable cost savings programs and purchasing discounts featuring steeply discounted pricing from more than a dozen industry-leading vendors that are part of the BIO Business Solutions preferred providers program — https://bbs.bio.org/content/new-mexico-biotechnology-biomedical-association-nmbio. In addition, NMBio has recruited and created its own list of talented vendors and service providers. In addition to offering competitive pricing, they provide the knowledge, critical skills and expertise to help you overcome hurdles and grow your business: https://www.nmbio.org/strategic-partners/
I’ll provide an example of a firm in each category. First up, UPS from the BIO Business Solutions program:
NMBio members can save up to 70% off UPS Next Day Air® services and up to 65% off UPS Worldwide International services.
Additional Member Benefits:
- Special pricing on UPS’ Proactive Response
- UPS Capital Flexible Parcel Insurance
- UPS Temperature True® Packaging
- UPS Store Business Services discounts
From NMBio’s Strategic Partner program:
MEDFAS (Manufacturers Economic Development Financing Associates) offers personal and online training opportunities to help companies and economic development professionals understand and apply for Tax Advantage Financing. TAF is a broad term that also includes tax-exempt loans made by a bank or private lender to a private enterprise to finance the costs of capital projects. Tax-exempt financing is used for the purpose of investing in new facilities, production lines, machinery and equipment, and technological advancements that help bolster productivity and profit. Low-cost capital access remains the primary strength of tax-exempt financing. Across the United States there are billions of dollars available every year for manufacturers to use to fund new projects and expansion plans. MEDFAS negotiates an average savings of 31% on interest expenses for its clients.
For the vast majority of members, BBS services provide savings that can easily exceed 10 to 20 times the cost of an annual membership. In addition, as many as 50 percent of the BBS firms and our Strategic Partners provide the association with a small royalty based on your purchases. This helps keep our association dues low and also provides us with a revenue stream that’s used to improve our program offerings and events. Board members and I are looking forward to the day when these royalties can generate enough revenue to support hiring additional staff.
While I’m booking my flight and hotel to attend this year’s BIO International Convention in Philadelphia in early June, I’ve begun laying the groundwork for next year’s event that will be held in San Diego, June 8-11, 2020. We’re once again planning to host a New Mexico Pavilion. In addition to inviting member firms to participate and market their research, products and services in our exhibit booth, we’ll be encouraging Governor Michelle Lujan Grisham and Alicia Keyes, Secretary of Economic Development, to join us as well as members from our Congressional delegation and the state House and Senate leaders for an event that will attract 17,000 attendees from more than 70 countries. We will be recommending several of the state’s key bioscience leaders (Pebble Labs Richard Sayre is a prime example) with breakthrough research and technologies to participate as speakers at the convention. Finally, members interested in participating in the pavilion may be eligible for state grants that will cover the cost of their registration as well as participating in the pavilion (the grants don’t cover travel or hotel costs). If interested, contact me for additional details.
Finally, we will be asked to commit financially for exhibit space for the San Diego pavilion at the conference in Philadelphia. If we want an exceptional piece of real estate to take advantage of traffic flow, we’ll have to sign a contact and commit to a down payment at the event. If interested in being an exhibitor, please contact me before May 25.