2012 Tax Incentive Program Announcement
The application period for the 2012 Life Sciences Tax Incentive Program is now open. Applications can be submitted online via the Center's website, with a deadline of October 25, 2012 at noon EDT.
The Program invests in job creation by offering tax incentives to growing companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The Life Sciences Initiative authorizes the Center to award up to $25 million in tax incentives each year. Through three prior rounds, the Center has fifty-seven (57) active awards totaling $56.7 million involving companies that have created or are promising to create more than 2,000 jobs.
Applicants are generally companies that have transitioned or are transitioning from pure life sciences research and development ("R&D") to commercialization and manufacturing. The Center recognizes that many companies struggle to address the significant capital investment associated with the long life sciences R&D cycle and the high cost of translating research into a commercially viable product. This solicitation is designed to help sustain these companies through a critical stage of development and to leverage additional sources of capital to bring cutting-edge innovation to the marketplace.
You can learn more about the Life Sciences Tax Incentive Program by visiting the Center's website. The Center will also be offering information sessions for interested applicants throughout the state. The dates and locations of these information sessions are listed below.
- Waltham, July 31, 8:30-10:00 am, 1100 Winter Street, Center entrance, 1st floor
- Worcester, September 11, 8:30-10:00 am, Worcester Polytechnic Institute, 60 Prescott Street
- Waltham, September 13, 8:30-10:00 am,1100 Winter Street, Center entrance, 1st floor
- Cambridge, September 14, 8:30-10:00 am, MassBio, 300 Technology Square, 8th floor
- Waltham, October 10, 8:30-10:00 am, 1100 Winter St., Center entrance, 1st floor.
Questions about the program can be emailed to TaxProgram@masslifesciences.com.