MLSC opens $1B life science tax break scheme
The Massachusetts Life Sciences Center, USA, has opened its $1.0-billion Life Sciences Initiative for on-line applications to receive a combination of tax incentives to life sciences firms and organizations, including biotechnology firms. A total of nine different tax breaks are available, for amounts up to $25.0 million in a year.
In addition, the MLSC's Life Sciences Accelerator program has opened, offering matching grants for various funding sources, including the federal government and institutional investors. Health care giant Johnson & Johnson is reported to have agreed a $500,000 contribution over two years.
The MLSC has also announced that it is moving its main offices from the state capital, Boston, to the Bay Colony Corporate Center, Waltham, in order to ensure its proximity to the main local focus of life sciences firms and research centers in Massachusetts. The $1.0-billion scheme is a cornerstone of Governor Deval Patrick's (Democrat) first term.
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