The Healey-Driscoll Administration, in partnership with the Massachusetts Life Sciences Center (MLSC), has announced $29.9 million in tax incentives for 33 life sciences companies. The initiative is expected to support the creation of 1,519 new jobs across Massachusetts.
According to Mass.gov, Governor Maura Healey made the announcement at Lila Sciences in Cambridge, highlighting the state’s role in advancing life sciences and job creation. The funding comes through the MLSC Tax Incentive Program and follows the launch of a second competitive round to fully utilize the new $40 million cap set by the Mass Leads Act.
The selected companies include both established pharmaceutical firms and emerging medical device and diagnostic companies. Alnylam Pharmaceuticals received a $1.84 million incentive to support 100 new jobs in Norton. Vertex Pharmaceuticals was awarded $5.61 million in exchange for creating 300 jobs in Boston.
The Tax Incentive Program supports job growth across the life sciences sector by providing financial incentives to companies of various sizes. Interim Economic Development Secretary Ashley Stolba, Co-Chair of the MLSC Board of Directors, noted that the program helps companies access skilled workers and expand operations across the state. About half of the new jobs are planned for communities outside of Boston and Cambridge.
The program is administered by the MLSC in coordination with the Massachusetts Department of Revenue. Participating companies must meet job creation targets and report regularly to demonstrate compliance and results. The program is part of the MLSC’s broader efforts, active since 2007, to support the growth of the life sciences sector in Massachusetts.
