The MLSC is excited to partner with MassBio and MassMEDIC respectively on two upcoming opportunities to encourage applications for the latest round of its tax incentive program.
MassMEDIC is hosting a virtual info session for the program on Jan. 22 at 12 p.m. Learn more via MassMEDIC.
MassBio is holding an in-person session on Jan. 27 at 1 p.m. Learn more here.
The Center is also holding an additional virtual session on Jan. 13.
The Tax Incentive program provides incentives to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts looking to expand their efforts by creating new, long-term jobs in the state. Since the program’s inception in 2009, 236 life sciences companies have been awarded $334 million in tax incentives.
The Center is excited to continue this program to attract and retain life sciences companies of all sizes. Of note, new and returning modifications of the program include:
- Average rate per job begins at $16,000
- Premium award per net new job to companies creating biomanufacturing positions
- Reduced new job retention compliance period from 5 years to 3 years
- Increased flexibility to support smaller companies and those located in emerging regional clusters by reducing minimum net new job creation from 10 to 5 positions
