Of the 25 companies receiving tax incentives in Massachusetts, 23 will add jobs outside of Boston and Cambridge. Medtronic, which is receiving the largest award, will create 220 roles in Billerica. Other recipients include AbbVie, Dyne Therapeutics and Viridian Therapeutics.
Massachusetts biopharma professionals will soon have more employment opportunities. Tax incentive awards totaling $17.3 million are expected to create 806 life sciences jobs this year in the state, the Healey-Driscoll Administration and Massachusetts Life Sciences Center (MLSC) announced yesterday. Ninety-eight percent of the positions the 25 award recipients are adding will be based outside of Boston and Cambridge.
The largest tax incentive, $4.85 million, went to Medtronic. The company will create 220 jobs in Billerica. Medtronic was one of five businesses to receive over $1 million.
The previous round of awards, announced in June, totaled $30 million and went to 33 companies so they could add an expected 1,519 positions this year. To date through the tax incentive program, life sciences businesses have agreed to create more than 20,700 jobs in Massachusetts.
The latest awardees have committed to retaining the positions they add through Dec. 31, 2027. Companies not in compliance with their hiring commitments will be decertified and must return tax incentives to the Massachusetts Department of Revenue.
In the Oct. 23 press release, Massachusetts Gov. Maura Healey said, “The breakthroughs happening here in Massachusetts don’t just strengthen our local innovation economy—they’re saving lives and changing the world. These tax incentive awards build on that momentum and show why Massachusetts is the best place to innovate, work and grow.”
MLSC President and CEO Kirk Taylor also highlighted the importance of the state’s life sciences industry in the announcement.
“The next generation of cures, treatments, and technologies will be developed here in Massachusetts because we are investing in the companies who will discover them today,” he said.
Of the 806 life sciences jobs that award recipients will add, 793 will be in locations outside of Boston and Cambridge. In those two cities, businesses will create three and 10 positions, respectively. Life sciences companies will also create openings in Acton, Andover, Bedford, Billerica, Charlestown, Franklin, Hopkinton, Lee, Lexington, Marlborough, Needham, Newton, Northbridge, Tyngsboro, Woburn and Worcester.
The five locations that will be home to the highest number of new jobs are Billerica (220), Waltham (93), Hopkinton (63), Bedford (60) and Worcester (60). Six businesses will add at least 50 jobs in Massachusetts: Medtronic (220 in Billerica), Repligen (63 in Hopkinton), AbbVie (60 in Worcester), TransMedics Group (55 in Andover), Genezen (50 in Lexington) and IPG Medical (50 in Marlborough).
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