Life Sciences Center Posts Grant Rules
The Massachusetts Life Sciences Center has taken its next anticipated step: defining the certification criteria that all interested companies must meet to get funding.
The center has posted the draft of its certification application online.
The center has talked about the certification process, including the application, with companies at all stages of development, government experts, accounting and legal specialists and industry trade groups such as the Massachusetts Biotechnology Council, according to the center's chief counsel Robert Sepucha.
The application process will consist of three portions: the first will be questions about the company's job creation and revenue predictions; the second will be for the specific grant the company is applying for and the third will be how the company approaches environmental sustainability, corporate governance and labor relations.
Under the Massachusetts Life Sciences Act, the MLSC is authorized to offer a combination of nine different tax incentives totaling $250 million over 10 years to certified life sciences companies, part of a $1 billion package of investments and incentives. The tax incentive program has a cumulative annual cap of $25 million.
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