Established in 2008, the Massachusetts Life Sciences Initiative allows up to $25 million in tax incentives each year for companies doing research and development, commercialization and manufacturing in the Commonwealth. For 2011, the Mass Life Sciences Center approved $23.9 million in incentives to 30 companies to create almost 1,000 new jobs. As a result of its commercialization and manufacturing plan, MBBP client Valeritas, Inc. has been chosen to share in these tax incentives and plans to create at least 18 new jobs. Governor Deval Patrick had this to say of the program:
The Life Sciences Initiative is all about jobs and better health. These incentives help us build a stronger foundation for our economy and for healing for years to come.