The Massachusetts Life Sciences Center handed out $25 million in tax breaks to local companies, with 6 medical device makers taking $7.8 million of the total pot.
The companies received the breaks in exchange for new jobs, promising to create 409 positions with the money they’re saving. The total MLSC initiative, not in its 5th year, garnered more than 1,200 promised jobs from 33 local life sciences firms, according to an agency press release.
"Over the past 5 years the Life Sciences Center’s Tax Incentive Program has encouraged life sciences companies large and small to create jobs and grow in Massachusetts," MLSC president & CEO Dr. Susan Windham-Bannister said in prepared remarks. "This program continues to provide a solid return to the Commonwealth, while holding life sciences employers who receive our incentives highly accountable for meeting their job creation commitments."
The medtech recipients of the tax incentives included:
- 908 Devices: $180,000 break for 12 jobs
- Biogen Idec: $6,250,000 break for 325 jobs
- Corindus: $429,163 break for 25 jobs
- CSA Medical: $204,310 break for 10 jobs
- NX Stage Medical: $449,482 break for 22 jobs
- Omni Life Science: $306,465 break for 15 jobs