Incentives expected to create 1,259 life sciences jobs throughout Massachusetts, with 68 percent of job growth taking place outside of Greater Boston
Today, the Baker-Polito Administration and Massachusetts Life Sciences Center (MLSC) announced $19.5 million in tax incentive awards to 28 life sciences companies. The awards, provided through the MLSC’s Tax Incentive program, are expected to create 1,259 new life sciences industry jobs in the Commonwealth. The Tax Incentive program is offered to companies engaged in life sciences research and development, commercialization, and manufacturing in Massachusetts, providing incentives to companies of all sizes looking to expand their efforts by creating new, long-term jobs in Massachusetts.
“These investments represent the robustness of Massachusetts’ life sciences ecosystem in action, demonstrating our Commonwealth’s continued leadership and ensuring the benefits of the life sciences are experienced throughout the state,” said Massachusetts Governor Charlie Baker. “Our Administration remains committed to investing at every level to ensure talent, jobs and innovation are all equally aligned to give our residents that opportunities to succeed.”
“The job creation and company expansions taking place across Massachusetts are key indicators of our competitive edge that continues to successfully encourage growth on a statewide basis,” said Massachusetts Lt. Governor Karyn Polito. “We look forward to working with these and other companies to build upon Massachusetts’ global leadership in the life sciences and further drive innovation, economic development, and job growth.”
Out of the 28 companies receiving tax incentive awards, 19 companies – accounting for 68 percent of the new jobs – are expanding outside of Greater Boston. Since the MLSC’s reauthorization in 2018, 82 percent of jobs committed through the MLSC’s Tax Incentive program are located outside of Boston and Cambridge. Out of the 1,259 jobs committed in this round of awards, more than half (633) are in manufacturing and 310 are in the R&D space. Since the Center’s inception, life sciences companies expanding across Massachusetts have committed to the creation of more than 8,000 jobs through this program.
“The Baker-Polito Administration, in partnership with the Life Sciences Center, remains committed to ensuring the Commonwealth continues to provide the ecosystem necessary 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 investments support our statewide approach for job creation in key industries like life sciences, for both home grown and global companies alike that recognize Massachusetts as the ideal place for companies to locate, accelerate, and thrive.”
“The Baker-Polito Administration continues to support growth and opportunity in the life sciences sector in order to create jobs and promote economic development across the Commonwealth,” said Administration and Finance Secretary Michael J. Heffernan, who also serves as MLSC Board Co-Chair. “We are pleased to help empower these companies as they innovate and grow with respect to research and development, manufacturing, and commercialization, and help ensure Massachusetts maintains its competitive advantages as a global leader in the life sciences.”
“Our Tax Incentive program continues to be a powerful tool to diversify the geographic footprint of the life sciences sector,” said MLSC President and CEO Kenn Turner. “Massachusetts remains the ideal ecosystem where life sciences companies of all sizes, sectors and geographic distribution, can find support to locate and expand here to create jobs and fuel our innovation economy.”
Today, Secretary Kennealy and President Turner joined state and local elected officials in Worcester for a tour of Mustang Bio, which is receiving an award in the amount of $300,000 that is expected to result in a net increase of 20 jobs. The clinical-stage biopharmaceutical company is focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases.
“We are grateful to be among this year’s recipients of a tax incentive award from MLSC,” said Manuel Litchman, M.D., President and Chief Executive Officer of Mustang Bio. “This award enables Mustang to grow our staff and continue advancing our robust pipeline of novel cell and gene therapy programs that address highly challenging diseases.”
“I am thrilled that Mustang Bio is an awardee of the Massachusetts Life Science Center’s Tax Incentive program,” said Massachusetts State Representative Jim O’Day. “Mustang Bio is a leader in medical innovation and it is fantastic to have more jobs in Worcester to combat previously untreatable diseases.”
“Worcester continues to be the place where companies like Mustang Bio can grow to develop innovative therapies and advance medical breakthroughs,” said Worcester Mayor Joseph Petty. “The Life Sciences Center continues to be a committed partner to the life sciences cluster here in Worcester and Central Massachusetts more broadly.”
“Congratulations to Mustang Bio, Inc. on this significant award and thank you to the Massachusetts Life Sciences Center for their support of the important work being done in Worcester,” City Manager Edward M. Augustus, Jr. said. “Mustang Bio is a critical part of the burgeoning life sciences sector in Worcester. This award will help create job growth at a crucial time. More importantly, it helps support the potentially life-saving work being done by Mustang Bio.”
In 2018, Mustang established a cell and gene therapy manufacturing site in Worcester, Massachusetts, with the goal to manufacture clinical and potentially commercial cell therapy products. Currently, the site employs over 70 employees with additional growth expected in 2021, spurred in part by MLSC investment. The company is one of a handful of companies being featured by Massachusetts stakeholders during the Biotechnology Innovation Organization’s (BIO) International Convention, the largest biotech partnering and education event, taking place virtually this year through June 18.
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 drug discovery and development, medical devices, diagnostics, and manufacturing. Awardees include:
|Company||Expansion Locations||Incentive Amount||Jobs Commitment|
|Alloy Therapeutics Inc.||Lexington||$150,000||10|
|Alnylam Pharmaceuticals, Inc.||Norton & Cambridge||$1,950,000||130|
|Berkshire Sterile Manufacturing||Lee||$185,000||35|
|CRISPR Therapeutics, Inc.||Framingham||$1,065,000||59|
|EMD Holding Corporation||Danvers||$1,725,000||115|
|Finch Therapeutics Inc.||Somerville||$750,000||50|
|FUJIFILM Holdings America Corporation||Watertown||$195,000||13|
|Cytiva||Westborough, Marlborough & Shrewsbury||$1,950,000||130|
|Instrumentation Laboratory Company||Bedford||$255,000||17|
|Invagen Pharmaceuticals Inc.||Fall River||$150,000||10|
|Lyndra Therapeutics, Inc.||Watertown||$495,000||33|
|Masy Systems, Inc.||Pepperell||$300,000||20|
|Mustang Bio, Inc.||Worcester||$300,000||20|
|New England Biolabs, Inc.||Ipswich||$525,000||35|
|Pine Trees Health, Inc.||Cambridge||$150,000||10|
|Snapdragon Chemistry, Inc.||Waltham||$150,000||10|
|Stoke Therapeutics, Inc.||Bedford||$300,000||20|
|Verve Therapeutics, Inc.||Boston||$525,000||35|
|Zoll Medical Corporation||Chelmsford||$675,000||45|
“The Massachusetts Life Sciences Center has consistently supported Snapdragon Chemistry throughout the years and we thank them for their steadfast partnership,” said Snapdragon Chemistry President and CEO Matthew Bio. “We greatly appreciate their assistance in the tax incentive program, internship challenge and other funding programs that have helped us to achieve our growth objectives in a competitive and vibrant life sciences ecosystem.”
“The tax incentive award program through the Massachusetts Life Sciences Center has greatly benefited our expansion,” said David First, chief people officer, SQZ Biotechnologies. “We are proud to be a member of the new and vibrant Watertown life science cluster and look forward to supporting the growth of this community through the addition of new employees who will advance our mission of creating cell therapies to benefit patients with cancer, autoimmune and infectious diseases.”
“On behalf of the businesses of Merck KGaA, Darmstadt, Germany, I would like to thank the Baker-Polito administration and the Massachusetts Life Science Center for their continued support of our facilities based here in the Commonwealth,” said Chris Ross, Head of Integrated Supply Chain Operations, MilliporeSigma and US Country Speaker. “This incentive comes at a critical time in not only supporting our future growth, but also in the manufacture of products used to fight Covid-19 and other devastating illnesses. Through this collaboration, we are making a difference to patients around the world.”
The MLSC jointly administers the Tax Incentive Program with the Massachusetts Department of Revenue (DOR), which oversees the technical administration of the incentives. Awardees are required to maintain job commitments over a five-year period. The program includes regular reporting requirements for awardees to document jobs created as a result of the incentive.