Incentives expected to create over 1,500 life sciences jobs throughout Massachusetts; Since Life Sciences Center’s inception, Tax Incentive program has now supported creation of more than 10,000 jobs
Today, the Baker-Polito Administration and Massachusetts Life Sciences Center (MLSC) announced $24.2 million in tax incentive awards to 36 life sciences companies. The awards, provided through the MLSC’s Tax Incentive program, are expected to create 1,581 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.
“This critical funding represents the Baker-Polito Administration’s continued commitment to supporting a thriving 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 job creation across our Commonwealth, spurring innovation and expansion for both homegrown and global life sciences companies alike. Massachusetts remains a global leader for companies in this industry to locate, accelerate, and improve patient outcomes.”
“The life sciences sector remains key to our innovation economy and the Baker-Polito Administration is proud to support growth and opportunity in the life sciences to create jobs and promote economic development,” said Administration and Finance Secretary Michael J. Heffernan, who also serves as MLSC Board Co-Chair. “The Commonwealth must maintain its competitive advantages as a global leader in the life sciences and these investments demonstrates Massachusetts leadership in accelerating companies’ ability locate and expand here in our Commonwealth.”
Out of the 36 companies receiving tax incentive awards, 28 companies—accounting for 77 percent of the new jobs—are expanding outside of Boston and Cambridge. Since the MLSC’s reauthorization in 2018, 80 percent of jobs committed through the MLSC’s Tax Incentive program are located outside of Boston and Cambridge. Since the Center’s inception, life sciences companies expanding across Massachusetts have committed to the creation of more than 10,000 jobs through this program.
“Through job creation incentives and other strategic initiatives, the Life Sciences Center will continue to deploy every resource necessary to support life science companies of all sizes and sub-sectors,” said MLSC President and CEO Kenn Turner. “Massachusetts’ global leadership in the life sciences is no accident. It’s because of a holistic and intentional commitment to sustaining an ecosystem-wide approach focused on innovation, regionalization, and diversity.”
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 |
| Abiomed, Inc. | Danvers | $450,000 | 30 |
| Agilent Technologies, Inc. | Chicopee | $150,000 | 10 |
| Apellis Pharmaceuticals, Inc. | Waltham | $300,000 | 20 |
| Beam Therapeutics, Inc. | Cambridge | $2,100,000 | 140 |
| Butterfly Network | Burlington | $960,000 | 64 |
| Bristol-Myers Squibb Company | Devens | $2,145,000 | 143 |
| C4 Therapeutics, Inc. | Watertown | $675,000 | 45 |
| Candel Therapeutics, Inc. | Needham | $240,000 | 16 |
| Charles River Laboratories, Inc. | Wilmington | $1,140,000 | 76 |
| ChemGenes Corporation | Wilmington | $150,000 | 10 |
| CONTINUUS Pharmaceuticals | Woburn | $180,000 | 12 |
| CRISPR Therapeutics, Inc. | Framingham | $1,365,000 | 65 |
| Eli Lilly and Company | Boston | $475,000 | 25 |
| Exact Sciences Corporation & Subsidiaries | Cambridge | $900,000 | 60 |
| Fog Pharmaceuticals, Inc. | Cambridge | $435,000 | 29 |
| Inozyme Pharma, Inc. | Boston | $225,000 | 15 |
| Instrumentation Laboratory Company | Bedford | $450,000 | 30 |
| iSpecimen, Inc. | Lexington | $450,000 | 30 |
| iVexSol, Inc. | Worcester | $315,000 | 21 |
| Lexington Medical, Inc, | Bedford | $525,000 | 35 |
| Lykan Bioscience, LLC | Hopkinton | $750,000 | 50 |
| Lyndra Therapeutics, Inc. | Franklin | $600,000 | 40 |
| Masy Systems, Inc. | Pepperell | $300,000 | 20 |
| Mersana Therapeutics, Inc. | Cambridge | $825,000 | 55 |
| Miltenyi Biotec, Inc. | Waltham | $150,000 | 10 |
| ModernaTX, Inc. | Norwood | $2,325,000 | 155 |
| Mustang Bio, Inc. | Worcester | $525,000 | 35 |
| New England Biolabs, Inc. | Ipswich | $525,000 | 35 |
| PharmaEssentia USA | Burlington | $150,000 | 10 |
| Quanterix Corporation | Billerica | $1,050,000 | 70 |
| Rapid Micro Biosystems, Inc. | Lowell | $150,000 | 10 |
| Rentschler Biopharma, Inc. | Milford | $900,000 | 60 |
| Saliogen Therapeutics, Inc. | Woburn | $1,425,000 | 95 |
| TCR2 Therapeutics Inc. | Cambridge | $450,000 | 30 |
| Vesigen Inc | Cambridge | $150,000 | 10 |
| Zoll Medical Corporation | Chelmsford | $300,000 | 20 |
“We are honored to be recognized by the Massachusetts Life Sciences Center and the Baker-Polito Administration,” said Dr. Todd Fruchterman, Butterfly Network’s President and Chief Executive Officer. “As we continue our journey to transform care for all patients by providing access to valuable ultrasound information at the point of care, we are excited to be part of the incredible Massachusetts’ healthcare ecosystem.”
“C4 Therapeutics is grateful to be part of the tax incentive program through the Massachusetts Life Sciences Center, which will help us deliver on the promise of targeted protein degradation science to create a new generation of medicines that transform patients’ lives,” said Andrew Hirsch, president and CEO, C4 Therapeutics. “This program will further support C4T’s growth in Watertown, where our talented workforce remains committed to supporting our neighbors and working with local partners to strengthen the life science community.”
“Lykan Bioscience is thrilled to be selected as a recipient of a $750,000 tax incentive through the Massachusetts Life Sciences Center’s 2021 Tax Incentive Program,” said Lykan Bioscience President and Chief Executive Officer Patrick Lucy. “We are happy to continue our strong partnership with the Massachusetts Life Sciences Center to maintain Massachusetts’ global leadership in life sciences.”
“We are very grateful and excited about the award, Miltenyi Biotec’s continued growth as well as the advancement of our teams and activities based in Massachusetts,” said Markus Weiss, EVP and CFO NAM, Miltenyi Biotec.
“We appreciate the ongoing support from the Massachusetts Life Sciences Center and are grateful to once again be a MLSC tax incentive award recipient. This award recognizes the ongoing economic impact that Mustang Bio brings to Massachusetts, supports our company growth and assists us as we advance our gene and CAR T cell therapy programs,” said Manuel Litchman, M.D., President and Chief Executive Officer of Mustang.
“As a rapidly growing leader with a rare cancer therapy launching in the U.S., Massachusetts has been an ideal location to expand our team and our U.S. footprint,” said Meredith Manning, President of the Americas, PharmaEssentia. “We look forward to continuing to build this momentum in the coming years with additional job growth and investments in the state.”
“We are excited to be among this year’s recipients of the tax incentive award from MLSC and look forward to our continued participation in their many great programs and resources,” said Nick Buffinger, Chief Operating Officer at Vesigen, Inc. “As a young company emerging from the pandemic, this incentive will help us sustain our growth and innovation as part of the vibrant Massachusetts life sciences community.”
“At Lyndra, we’re pioneering long-acting oral therapies by developing a capsule that can deliver a week’s—or even a month’s—worth of medicine in a single dose,” says Jessica Ballinger, President and Chief Operating Officer at Lyndra Therapeutics. “Thanks in no small part to our continued partnership with the Massachusetts Life Sciences Center, we’ve been able build our R&D business in Massachusetts, including our commercial manufacturing facility, to help us achieve our mission.”
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.
