Massachusetts’ global leadership in the life sciences is no accident. It’s because of the powerful, intentional, and continued engagement of Massachusetts elected and appointed leaders. Since 2008, government and industry have collaborated on a holistic and intentional commitment to sustaining an ecosystem-wide approach focused on innovation, geographic equity, and diversity.
The Commonwealth stands out in comparison to other top life sciences states in the level of life sciences industry R&D, patent activity, and venture capital investments. Massachusetts’ leadership post in life sciences industry development reflects the confluence of market forces being supported by forward-looking public policy. In 2008, under the leadership of Governor Deval Patrick Massachusetts made a $1 billion, 10-year commitment to solidify the state’s prominence in life sciences industries. This ambitious effort, known as the Massachusetts Life Sciences Initiative, charged a body, the Massachusetts Life Sciences Center, with carrying out the initiative.
In 2018, the Massachusetts legislature Governor Charlie Baker signed An Act Providing Continued Investment in the Life Sciences Industry in the Commonwealth to invest up to $623 million in bond authorization and tax credits over five years in education, research and development, and workforce training.
Most recently, Governor Maura Healey signed into law the Mass Leads Act, an economic development bill building on the success of the state’s renowned life sciences sector infusing the Life Sciences Initiative with another $1 billion over the next decade.
Historically, the MLSC also receives an annual appropriation to support its Investment Fund, which serves as a critical component of the Center’s funding.
As a quasi-public agency of the Commonwealth of Massachusetts, the MLSC has been given a mandate to “expand life sciences-related employment opportunities in the Commonwealth and to promote health-related innovations by supporting and stimulating research and development, manufacturing and commercialization in the life sciences.” The Massachusetts Life Sciences Center’s investments and its varied programs are supporting both near-term and more tangible development goals such as increasing jobs, investment, and commercialization through direct assistance to life sciences companies, as well as longer-term enhancements to the innovation ecosystem for life sciences, such as investing in innovation infrastructure.
