Organogenesis receives $857K tax incentive

Representative William C. Galvin (D-Canton) is pleased to announce that Organogenesis, Inc. has been awarded $857,500 in tax incentives by the Massachusetts Life Sciences Center (MLSC). It is estimated that this will create 35 new jobs at the Canton-based business.

“Organogenesis does tremendous work and is an asset to our community,” said Galvin. “This award will help them grow their business and to continue their meaningful work.”

The MLSC was created as part of the Massachusetts Life Sciences Act in 2008. The center is tasked with a 10-year mission to cultivate the life science sector in Massachusetts.

The Life Sciences Tax Incentive Program was a component of the 2008 Life Sciences Act, and its goal is to encourage life science companies to create new and sustainable jobs in Massachusetts. Over the past four years it is estimated to have generated 1,800 jobs across the state.

“The Life Sciences Center’s Tax Incentive Program encourages life science companies large and small to create jobs and grow in Massachusetts,” said Dr. Susan Windham-Bannister, president and CEO of the MLSC. “This program continues to provide a solid return to the commonwealth by holding life science employers who receive our incentives highly accountable for meeting their job creation commitments.”

Twenty-five life science companies across the commonwealth were awarded a total of $23.85 million under the most recent round of awards by the Life Sciences Tax Incentive Program. This program is administered by the MLSC and the state Department of Revenue.

Short URL: https://www.thecantoncitizen.com/?p=19406

Posted by Canton Citizen on Mar 7 2013. Filed under Business. Both comments and pings are currently closed.