Massachusetts Life Sciences Center Announces Tax Incentives Targeting Growth at 28 Companies and Totaling $21.2 million
Center Awards $21.2 million to foster job growth in the Massachusetts Life Sciences sectors
The Massachusetts Life Sciences Center announced today that the Center’s Board of Directors has awarded $21.2 million in tax incentives to 28 life sciences companies. The recipient companies have committed to creating more than 940 new jobs in the Commonwealth this year. The Life Sciences Tax Incentive Program, established in 2008 as part of the state’s tenyear, $1 billion Life Sciences Initiative, authorizes up to $25 million in tax incentives each year for companies engaged in life sciences research and development, commercialization, and manufacturing. The primary goal of the program is to incentivize life sciences companies to create new sustained jobs in Massachusetts.
Two OCT Companies were among the receipients. St. Jude Medical/Lightlab Imaging received $636,636 and NinePoint Medical received $313,483.
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