MASSDEVICE ON CALL — The Massachusetts Life Sciences Center has already created more than 2,500 jobs just 4 years into a 10-year plan initiative, according to a study from economists at Northwestern University.

The Bay State’s biotech plan is slated to provide $1 billion in investment over the course of 10 years. Between June 2008 and June 2012 the state paid out just over $300 million in investments and tax incentives, reporting that the invested companies had reported 2,537 new jobs.

By the state’s accounting, the program could pay for itself – and then some – in income and sales taxes, according to the MLSC.

"Given the average $105,000 salary of these jobs, we predict they will generate more than $266 million in wages and salaries during the next 5 years," according to the report. "If our analysis proves correct, these workers will pay more than $93 million in state personal income and sales taxes during that period. As such, assuming all of these jobs were directly related to the tax incentives and that these jobs last at least 5 years, every dollar of tax incentive will repay $1.66 to state coffers."

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