Mustang Bio commits to 20 new hires, receives $300K tax incentive
Photo | Courtesy Mustang Bio
Mustang Bio's building in Worcester
Worcester biotech firm Mustang Bio has received $300,000 in tax incentives from the Massachusetts Life Sciences Center after committing to new hiring this year.
The tax incentives were awarded after Mustang Bio committed to hiring 20 net new full-time equivalent employees in the 2021 calendar year and retaining that headcount level through 2025, according to a release from the company.
Mustang Bio is a clinical-stage biopharmaceutical company focused on potential cures for hematologic cancers, solid tumors and rare genetic diseases.
The MLSC Tax Incentive Program authorized $19.5 million in tax incentives this year for companies engaged in life science research and development, commercialization and manufacturing, according to the release. The program is designed to incentivize Massachusetts life science companies to create new jobs.
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