MLSC targeting small life science operations with $4M in grants
Travis McCready
The Massachusetts Life Sciences Center, the organization charged with building and supporting the life sciences sector in the state, has launched a grant program aimed at encouraging companies to locate small to mid-size expansions in the Bay State.
The Massachusetts Transition and Growth Program (“MassTAG”), projected to launch this fall, will provide grant funding to encourage and support the arrival and integration of companies that are establishing an initial small to mid-size presence in Massachusetts. It will function the same way as the organization’s tax incentive program, which has been used with locations with over 50 employees but is aimed at creating locations with 10 to 49 employees. The grant per company will vary but be in the range of $15,000 to $25,000.
“This program will be of great benefit to small, innovative companies that wish to establish a foothold here and take advantage of all of the benefits our life sciences supercluster has to offer,” Tom Sommer, President of MassMEDIC, the trade association representing the medical device and diagnostics sectors in Massachusetts, said in a statement. “I expect MassTAG to enhance the Commonwealth’s competitive advantage and spur additional life science innovation and company growth.”
The Massachusetts Life Sciences Center is an investment agency that supports life sciences innovation, research, development and commercialization.
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