Life Sciences Tax Incentive Program

In order to expand life sciences-related employment opportunities, promote health-related innovations and stimulate research and development, manufacturing and commercialization in the life sciences, the Massachusetts Life Sciences Center is pleased to announce that it is offering tax incentives in 2010 to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The Life Sciences Initiative authorizes the Center to award up to $25 million in tax incentives each year. In 2009, the Center awarded $24.5 million in tax incentives to 26 companies. These companies agreed to create more than 800 new jobs during calendar year 2010.

Life Sciences leaders tour the manufacturing space at Morgan Advanced Ceramics in New Bedford, a recipient of a 2009 award from the Life Sciences Tax Incentive Program. The company received tax incentives totaling $570,000, and in exchange committed to creating nineteen new jobs in 2010 as part of a 25,000 square foot expansion. Pictured from left to right are MassBio President Robert Coughlin, Life Sciences Center President & CEO Susan Windham-Bannister, Buddy Rocha from the Massachusetts Office on Business Development, and Morgan Advanced Ceramics Vice President & General Manager Brian Roznoy.

Applicants are generally companies that have transitioned or are transitioning from pure life sciences research and development (“R&D”) to commercialization and manufacturing. The Center recognizes that many companies struggle to address the significant capital investment associated with the long life sciences R&D cycle and the high cost of translating research into a commercially viable product. This solicitation is designed to help sustain these companies through a critical stage of development and to leverage additional sources of capital to bring cutting edge innovation to the marketplace.

Interested applicants will be required to submit an on-line application. Applications will be accepted on an ongoing basis via the MLSC web site up until the deadline of July 2, 2010 at noon. This is a one-step application process that includes information necessary for company certification under the Life Sciences Act. Please see Sections 5 and 6 of the solicitation for more information regarding the application process.

Questions about the Life Sciences Tax Incentive question can be sent to TaxProgram@masslifesciences.com.

Click here to read the press release >>

Click here to view the program solicitation >>

Click here to view a PDF of the application >>

Click here for FAQ’s >>

View the Department of Revenue's Technical Information Release (TIR)

See slide presentation from info session here >>

Click here to see sample Tax Incentive Agreement Template >>

The application period for the 2010 Life Sciences Tax Incentive Program is now closed.