Tax incentives announced for life science companies in Mass.
Oct 15, 2024
BOSTON (WWLP) - Two western Massachusetts life science companies are among 19 across the state to receive tax incentive awards.
The Healey-Driscoll Administration and the Massachusetts Life Sciences Center (MLSC) are allocating $21.4 million through the MLSC’s Tax Incentive Program. The money will be used to create 1,155 new jobs in the industry, help with company growth, and keep the businesses in the state. Seventeen of the companies named are expanding in communities outside of Boston and Cambridge, including Chicopee and Lee.
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“We must continue to meet the moment and send a strong signal to companies here in Massachusetts and globally that our state remains the best place in the world to launch and scale life sciences solutions,” said Governor Maura Healey. “Becoming the global hub of the life sciences doesn’t happen by accident. These awards will allow our state to accelerate innovation and job creation and transform lives around the world.”
“Congratulations to the leading Massachusetts life science companies that continue to drive breakthroughs that impact patients and create jobs across our state,” said Lieutenant Governor Kim Driscoll. “We’re excited to partner with these companies and invest in their growth.”
“Our life sciences industry is a critical part of Team Massachusetts as we look to lengthen the lead in this sector,” said Economic Development Secretary Yvonne Hao, who serves as Co-Chair of the MLSC’s Board of Directors. “We must continue to make critical investments and partner with companies across Massachusetts that are committed to starting, growing, and staying in our state.”
“We are incredibly proud of this year’s companies for their commitment to job growth and also their world-leading visions to transform patient lives on a global scale,” said MLSC President and CEO Kirk Taylor, M.D. “The team at the Life Sciences Center remains an unwavering partner to the life sciences industry in our shared pursuit to turn groundbreaking ideas into reality, made possible by our commitment to innovation, better health, and equity.”
Below is the list of companies receiving the tax incentive awards:
Agilent Technologies Inc. Chicopee $250,000 10 Berkshire Sterile Manufacturing Lee $500,000 20 Charles River Laboratories, Inc. Wilmington $875,000 50 Dicerna Pharmaceuticals, Inc./Novo Nordisk Lexington $1,312,500 75 Disc Medicine, Inc. Watertown $250,000 10 Eli Lilly and Company Boston $437,000 23 EyePoint Pharmaceuticals, Inc Northbridge $500,000 20 Imprivata, Incorporated Waltham $297,500 17 Instrumentation Laboratory Company Bedford $525,000 30 Insulet Corporation Acton $1,925,000 110 ModernaTX Inc. Norwood $6,037,500 345 Pace Analytical Services, LLC Woburn $892,500 51 Sirtex Medical US Holdings, Inc. Woburn $250,000 10 Spear Bio Inc. Woburn $250,000 10 Synterex, Inc. Dedham $250,000 10 TScan Therapeutics, Inc. Waltham $250,000 10 Vericel Corporation Burlington $975,000 39 Vertex Pharmaceuticals, Inc. Boston $5,250,000 300 Viridian Therapeutics, Inc. Waltham $375,000 15
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