Central Mass. companies to add 123 jobs; get $1.8M in tax incentives

Courtesy Travis McCready, president and CEO of MLSC, says regional approach is needed in Massachusetts.

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By Sam Bonacci

Central Massachusetts companies from Worcester to Milford and over to Framingham have pledged to grow their businesses by more than 120 jobs in exchange for $1.845 million in tax incentives from the Massachusetts Life Sciences Center (MLSC)

The announcement of $20 million in tax incentives for 2016 from the MLSC on Thursday included job commitments from the 28 life sciences companies receiving the incentives. The largest tax incentive assigned in the region was $720,000 to LFB USA, Inc. of Framingham that creates biotherapies and will add 48 jobs locally.

AbbVie will add 35 jobs in Worcester and receive $525,000 in tax incentives from the MLSC. Nitto Denko Avecia Inc. will receive $450,000 and add 30 jobs in Milford. A tax incentive of $150,000 will help spur 10 new jobs from Web Industries Boston at their Holliston facility.

These tax incentives are designed to spur growth within the life sciences industry in the state, with the latest awards set to help grow the industry by 1,325 jobs. A focus was made during this round too ensure this growth is distributed throughout the state, said Travis McCready, president and CEO of the MLSC. Half of the companies awarded for 2016 are located outside of or are expanding outside of the greater Boston area.