Incentives expected to create 1,181 life sciences jobs throughout Massachusetts, with more than half of awardees expanding facilities outside of Greater Boston
Today, the Baker-Polito Administration announced $18.6 million in tax incentive awards to 31 life sciences companies. The awards, provided through the Massachusetts Life Sciences Center’s (MLSC) Tax Incentive Program, are expected to create 1,181 new jobs in the Commonwealth. This year’s awardees include companies that are pushing the cutting edge of gene editing, investing in next- generation biomanufacturing, and driving the global markets in medical devices and enabling technology. More than half of this year’s awardees are expanding their facilities outside of Greater Boston and more than 65 percent are companies with fewer than 250 employees.
“The job creation and company expansion that continues to occur across the state reinforces the Commonwealth’s status as most desirable place for life sciences companies to grow and succeed,” said Massachusetts Housing and Economic Development Secretary Mike Kennealy, who serves as Co-Chair of the MLSC Board of Directors. “These incentives continue to be a valuable tool for innovation, economic development, and job growth for the life sciences sector and broader economy.”
The MLSC has continued to utilize the Tax Incentive Program to leverage diverse life sciences assets across Massachusetts and to encourage growth and expansion on a statewide basis. The awardees represent a diverse cohort of companies working on new technologies such as personalized medicine, diagnostics, cell and gene therapy, RNAi medicines and innovations in medical device manufacturing across broad geographic areas of the Commonwealth. MLSC Tax Incentive Awardees include:
|Company||Expansion Location||Incentive Amount||Job Commitment|
|Berkshire Sterile Manufacturing||Lee||$290,000||23|
|Blueprint Medicines Corporation||Cambridge||$1,065,000||71|
|Charles River Laboratories, Inc.||Shrewsbury||$780,952||50|
|CRISPR Therapeutics Inc.||Framingham||$420,000||20|
|Dicerna Pharmaceuticals, Inc.||Lexington||$1,425,000||95|
|EMD Holding Corporation||Burlington||$1,350,000||90|
|Finch Therapeutics Inc||Somerville||$600,000||40|
|Ginkgo Bioworks, inc.||Boston||$1,874,285||120|
|Inozyme Pharma Inc||Boston||$110,000||11|
|Instrumentation Laboratory Company||Bedford||$374,860||24|
|Kymera Therapeutics, Inc.||Cambridge||$375,000||25|
|Mevion Medical Systems, Inc.||Littleton||$156,190||10|
|Morphic Therapeutic Inc||Waltham||$156,190||10|
|Mustang Bio, Inc.||Worcester||$234,285||15|
|New England Biolabs, Inc.||Ipswich||$375,000||25|
|Orchard Therapeutics North America||Boston||$195,000||13|
|Platelet BioGenesis, Inc.||Cambridge||$390,480||25|
|Sanvita Medical LLC||Billerica||$156,190||10|
|Snapdragon Chemistry, Inc.||Waltham||$30,000||10|
|Spero Therapeutics, Inc.||Cambridge||$255,000||17|
|Stoke Therapeutics, Inc.||Bedford||$328,000||21|
|TScan Therapeutics, Inc.||Waltham||$270,000||20|
|WUXI Biologics USA, LLC||Worcester||$400,000||10|
|ZOLL Medical Corporation||Chelmsford||$750,000||50|
“These job creation incentives continue to be an essential tool for ensuring for Massachusetts remains the hub for life sciences activity,” said MLSC interim President and CEO Damon Cox. “This latest round of awards will build upon our Commonwealth’s robust workforce, and propel the development of new therapies, devices, and scientific advancements that are improving patient health and well-being.”
Since its inception, the MLSC Tax Incentive Program has authorized 291 awards representing more than $241 million of incentives with the goal of creating approximately 12,579 net new jobs across Massachusetts. Awardees are required to maintain these jobs over a five-year period. As of June 30, 2020, there were 106 active awards from the 2015 through 2019 program years, with a combined commitment of 5,026 net new jobs under the program. To date, the Tax Incentive Program has resulted in combined net new hire commitments or actual new hires of 8,162 jobs among active and completed awards.
Indicating the strength of Massachusetts’ life sciences sector, many of the awardees have made valuable contributions to the global response to the pandemic. Berkshire Sterile Manufacturing, a Western Massachusetts Contract Manufacturing Organization and multi-year Tax Incentive awardee, provided contract manufacturing and sterile filling services for multiple COVID-19 treatments. In the face of impending shortages at hospitals, Zoll Medical in Chelmsford, ramped up its ventilator production more than tenfold, producing thousands of units monthly. Synthetic biology pioneer Ginkgo Bioworks pledged $25 million in access to its foundries and proprietary platform to accelerate work toward the development of diagnostics, vaccines, and treatments.
The MLSC jointly administers the Tax Incentive Program with the Massachusetts Department of Revenue (DOR), which oversees the technical administration of the incentives. The program includes regular reporting requirements for awardees to document jobs created as a result of the incentive.