WuXi Biologics agreement includes up to $21M in city, state help
The now closed Worcester State Hospital is set to become a biomanufacturing campus.
WuXi Biologics, the Chinese company slated to be the first tenant to occupy the Biomanufacturing Park in Worcester, could receive up to $20.8 million in city and state incentives, grants and loans for its proposed $60-million life science facility.
According to an agreement between the company, the state-backed Massachusetts Life Sciences Center (MLSC), Worcester Business Development Corp. and city, includes a rent abatement for five years and up to 10 percent in state tax credits.
Per the agreement, the company will receive $5 million in the form of a capital grant from MLSC to help support the facility.
The city will provide a personal property tax exemption worth $1.5 million annually for five years for a total of $7.5 million, and the city will also provide a tax-increment-financing plan worth just over $1 million total for five years.
From the state, the company will receive up to $1 million in workforce training funds over four years and a fit-out loan from MassDevelopment worth $2.5 million. Also included in the agreement is District Improvement Financing for the cost of infrastructure upgrades worth another $1.5 million.
The company could also land another $2.3 million if it hires its estimated 150 employees, qualifying for an MLSC tax incentive of $15,000 per net new job created in the state.
WuXi Biologics announced last week its plans to build the $60-million facility, which would be its 11th drug manufacturing plant worldwide and its first in the United States.
The plant, dubbed the "Facility of the Future," will be built using the company's single-use bioreactors and will be designed to run continuous bioprocessing -- technology to be used in America for the first time, according to the company.
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Chinese company to build $60M biomanufacturing facility in Worcester
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