Gov. Maura Healey announced last week nearly $40 million in tax incentives for 38 companies committed to creating more than 1,600 new jobs in Massachusetts.
The recipients include companies working on artificial intelligence, women’s health, therapeutics, diagnostics, medical technology, research and development, and biomanufacturing.
About 29% of these new jobs will be based in Boston and Cambridge, with seven companies committing to nearly 470 new jobs, according to Banner analysis of a list provided by Healey’s office.
“We are going to keep competing for jobs, supporting innovation and making sure Massachusetts remains the best place to start and grow a life sciences company,” Healey said last week.
The Massachusetts Life Sciences Center’s Tax Incentive Program, which supports companies expanding their research, development and manufacturing operations in Massachusetts, distributed the awards.
The life sciences industry, which consists of pharmaceuticals, biotechnology, medical devices and consulting, according to Harvard University, has made a hub in the Boston and Cambridge area, which is home to 19 of the top 20 biopharma companies, according to the Massachusetts Life Sciences Center.
“The awards reflect our commitment to scaling life sciences companies here in Massachusetts,” said Economic Development Secretary Eric Paley, co-chair of the Massachusetts Life Sciences Center board of directors. “These companies reinforce that Massachusetts is the best place to invest, expand, and build for the future.”
Largest awards
- Insulet Corporation, Acton: $10 million for 250 jobs
- Lila Sciences Inc., Cambridge: $3.6 million for 200 jobs
- Vertex Pharmaceuticals Inc., Boston: $3.025 million for 121 jobs
- Bristol-Myers Squibb, Devens: $2.875 million for 125 jobs
- TransMedics Group Inc., Andover: $1.86 million for 62 jobs
The largest award, $10 million, will go to Insulet Corporation in Acton. Massachusetts entrepreneur John Brooks founded Insulet in 2000 after his three-year-old son was diagnosed with type 1 diabetes, and the company now has more than 5,000 employees in total and amassed $2.7 billion in revenue in 2025, according to the Boston Business Journal.
The second and third largest awards will go to Lila Sciences and Vertex Pharmaceuticals. Cambridge-based Lila Sciences, which was founded in 2023, describes itself as a scientific superintelligence company. Vertex Pharmaceuticals, a biopharmaceutical company based in Boston, is the second largest life science company in the state. Chetan Patel, CEO and founder of SMC Ltd., which describes itself as a medical contract manufacturer and delivery service, said the $1.35 million it is receiving through this round of awards will help expand its facility in Devens. The company has committed to 54 new jobs, according to the state’s list.
“We are making significant investments in our Devens facility to support new pharmaceutical programs and expand our capabilities,” Patel said. “The MLSC award will be a meaningful catalyst for that growth, helping us expand our facility, grow our team, and strengthen SMC’s role as a trusted manufacturing partner for innovative healthcare companies.”
Awardees of the program must maintain their new job commitments for three years and report regularly on their progress during this time.
The Mass Leads Act, which Healey signed in November 2024, paved the way for these tax incentives by raising the cap on life sciences tax incentives from $30 to $40 million. Since 2008, the Massachusetts Life Sciences Center, which administers the program along with the Department of Revenue, has given out nearly $1.2 billion in grants, loans, infrastructure investments, tax incentives and workforce programs. Participating companies have committed to creating more than 22,300 jobs since the program’s creation, according to Healey’s office.