Tags: life sciences companies, mass life sciences center, tax incentive program
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On July 23rd the Massachusetts Life Sciences Center (MLSC) announced that its 2013 Life Sciences Tax Incentive Program is now open. The Life Sciences Initiative authorizes the MLSC to award up to $25 million in tax incentives each year to qualified companies in an effort to expand life sciences-related employment opportunities, promote health-related innovations and stimulate research and development, manufacturing and commercialization in the life sciences. Applicants are generally companies that have transitioned or are transitioning from pure life sciences R&D to commercialization and manufacturing.
This is the fifth year that incentives will be provided under the program. Nearly 50 companies have active tax incentive awards totaling more than $75 million awarded during the past four program years. Those companies created a total of more than 1,800 jobs after receiving their tax incentives.
To be considered for tax incentives, please submit your application online via the MLSC’s website by October 24, 2013, at noon EDT. If you would like to learn more about this program, please visit the Mass Life Sciences Center.
Tags: accelerator loan, early stage, mass life sciences center
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On January 4, the Massachusetts Life Sciences Center announced it was launching the second year of its Accelerator Loan Program, in which early-stage life sciences companies apply for the opportunity to receive working capital to aid in the process of developing their science or technology, and to position these companies for subsequent investment. This year, loans for this program will be capped at $1 million per company. Applications are now being accepted and are due by February 8, 2013.
To date, the Accelerator Program has awarded $15.1 million in loans to 24 companies, six of which have paid back their Accelerator loans early with interest after generating more than $105 million in equity or acquisition proceeds.
To learn more or to apply for the Accelerator Loan Program, please visit Mass Life Sciences Center.
Tags: mass life sciences center, tax incentives, tax program
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On Tuesday, October 2nd MBBP is hosting a joint event with McGladrey, LLP on the 2012 round of the MLSC Tax Program. In order to expand life sciences-related employment opportunities, promote health-related innovations and stimulate research and development, manufacturing and commercialization in the life sciences, the Massachusetts Life Sciences Center is offering tax incentives in 2012 to companies engaged in life sciences research and development, commercialization and manufacturing in Massachusetts. The Life Sciences Initiative authorizes the Center to award up to $25 million in tax incentives each year.
The primary goal of the Program is to incentivize life sciences companies to create new long-term jobs in Massachusetts. To qualify companies must receive certification from the Center and must demonstrate both the scientific and academic merit of their expansion plans.
You won’t want to miss this chance to get details and answers to your questions with Program speaker Brad Rosenblum, Chief Financial and Administrative Officer for the Massachusetts Life Sciences Center. Mr. Rosenblum is responsible for MLSC’s Finance, Information Technology, Human Resources, Risk Management and Facilities, and has over 20 years finance experience with public and private companies in various roles.
For more information, directions, or to register, please visit the event page: Information Session – Life Sciences Tax Incentive Program.