Massachusetts Life Sciences Center Announces Opening of 2014 Life Sciences Tax Incentive Program
Waltham, MA – The Massachusetts Life Sciences Center announced today that applications are now being accepted for the 2014 Life Sciences Tax Incentive Program. All applications are due by 12:00 p.m. ET on Thursday, October 23, 2014 and can be submitted online via the Center’s website at www.masslifesciences.com. Information sessions for potential applicants will be held in the coming months in various locations. Dates and locations are listed on the Center’s website.
The Program offers tax incentives to 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 five prior rounds the Center has awarded more than $115 million to growing companies across the state that have created thousands of jobs as a result.
The Program addresses the significant capital expenditures associated with the life sciences R&D cycle and the high costs of translating research into commercially viable products. To qualify, companies must receive certification from the Center and must demonstrate both the scientific and economic merit of their expansion plans. The primary goal of the Program is to incentivize life sciences companies to create new long-term jobs in Massachusetts.
“Our Tax Incentive Program has provided a solid return on investment for the Commonwealth. The program is based on new job creation and holds the companies that receive tax awards highly accountable for their job creation commitments,” said Susan Windham-Bannister, Ph.D., President & CEO of the Massachusetts Life Sciences Center. “The Center’s tax incentives have created thousands of jobs across the state for individuals with a wide range of skills and educational backgrounds. We encourage companies to apply.”
“As an organization that has been awarded Massachusetts Life Science Center tax incentives in 2011 and 2013, Quanterix has experienced the benefits of this program first hand,” said Ernest Orticerio, Vice President, Operations and Chief Financial Officer, Quanterix. The amounts awarded have contributed to our transition from a development organization to a commercial entity, facilitating our expansion within Massachusetts and creating a global framework.”
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an investment agency that supports life sciences innovation, research, development and commercialization. The MLSC is charged with implementing a 10-year, $1-billion, state-funded investment initiative. These investments create jobs and support advances that improve health and well-being. The MLSC offers the nation’s most comprehensive set of incentives and collaborative programs targeted to the life sciences ecosystem. These programs propel the growth that has made Massachusetts the global leader in life sciences. The MLSC creates new models for collaboration and partners with organizations, both public and private, around the world to promote innovation in the life sciences.
For more information visit the Center’s website at www.masslifesciences.com or email firstname.lastname@example.org.
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