See Which Life Sciences Companies Are Getting The $25M State Tax Breaks
Quite a few of the companies we cover here at Xconomy received some good fortune this year right before the holidays. These 28 life sciences companies will pocket a total of $25 million in tax incentives, according to a statement from the Massachusetts Life Sciences Center.
Gov. Deval Patrick, who staked a fair bit of his political capital on the 10-year, $1 billion program that provides these tax breaks, noted that the companies have committed to create an estimated 918 jobs in the Bay State over the coming year. The jobs have to be maintained for at least five years, otherwise the state can demand the incentives be fully or partially paid back, according to the statement.
Here’s the full list of tax break recipients, with the biggest winners listed on top:
1. Shire Human Genetic Therapies, Lexington—$6,277,057
2. Genzyme, Cambridge—$6,000,000
3. Cubist Pharmaceuticals, Lexington—$1,740,000
4. Biogen Idec, Cambridge—$1,500,000
5. Merrimack Pharmaceuticals, Cambridge—$1,500,000
6. Sepracor, Marlboro—$750,000
7. InfraReDx, Burlington—$630,000
8. Morgan Advanced Ceramics, New Bedford—$570,000
9. Infinity Pharmaceuticals, Cambridge—$540,000 … Next Page »