The Baker-Polito Administration and the Massachusetts Life Sciences Center (MLSC) announced $30.95 million in capital grant funding to support the state’s global leadership in the life sciences sector.
In total, 11 projects across Massachusetts will receive funding through the MLSC’s Competitive Capital Program to support advances in human health, accelerate innovation in the areas of clinical and translational research, and expand the capacity of life sciences development and job growth across the Commonwealth.
Governor Charlie Baker said the Administration “is dedicated to generating economic growth and supplying researchers with the tools they need to create new advancements in improving patient outcomes. By investing in the Massachusetts innovation economy, we can work together with academic and industry partners to support game-changing technological research and create jobs across the state.”
Lieutenant Governor Karyn Polito said the capital funding “further enhances our world-class talent pipeline, spurring additional educational and career opportunities throughout every region of the Commonwealth. Our administration is pleased to make investments in educational and training programming to ensure that any resident pursuing a career in the life sciences can thrive, positioning Massachusetts to continue to lead the way in this field.”
The MLSC’s Competitive Capital Program invests capital dollars through a competitive process in high potential economic development projects that promise to make a significant contribution to the state’s life sciences ecosystem. Moreover, the competitive program aims to address funding gaps in capital dollars, industry support, and federal funding for educational institutions, incubators, research institutions, and workforce training programs, while also catalyzing private and philanthropic investment to match state investment and preparing the life sciences workforce of the future.
MLSC President and CEO Travis McCready said the investments “represent new opportunities for our life sciences ecosystem to support job growth, talent development, and entrepreneurial growth across the Commonwealth. By continuing to expand regional access in education and hands-on training and supporting innovative, novel technologies, we are unlocking new potential in our understanding of human physiology to push toward medical advances for patients around the world.”
The MLSC’s infrastructure investments have contributed to the creation of more than 1.9 million square feet of new life sciences research and manufacturing space across the Commonwealth, while creating more than 5,800 jobs in the building trades and in the life sciences sector. The $30+ million in capital funds in this most recent round will be distributed across 11 different projects, including six research institutions, three projects centered on workforce development efforts, and two incubators in Worcester and Beverly. Many of the projects are multi-partnered and leverage an additional $29.85 million in investments by partner institutions or the awardees themselves.
In June 2018, Governor Baker signed An Act providing continued investment in the life sciences industry in the Commonwealth to invest up to $623 million in bond authorization and tax credits over five years in education, research and development and workforce training. This legislation will serve to reinforce the Baker-Polito Administration’s commitment to ensuring Massachusetts’ leadership in the life sciences sector.
MLSC Competitive Capital Program award descriptions:
Baystate Medical Center – $3,949,912
Boston Children’s Hospital – $1,545,050
Boston University Medical School – $4,991,000
Brigham and Women’s Hospital – $5,000,000
Gloucester Marine Genomics Institute – $174,383
Massachusetts Biomedical Initiatives – $3,494,256
Massachusetts General Hospital – $4,805,000
MassBay Community College – $500,000
North Shore InnoVentures – $1,650,000
Northeastern University – $4,271,867
Quincy College – $725,000
About the Massachusetts Life Sciences Center
The Massachusetts Life Sciences Center (MLSC) is an economic development investment agency dedicated to supporting the growth and development of the life sciences in Massachusetts, home to the most verdant and productive life sciences ecosystem in the world. Through public-private funding initiatives, the MLSC supports innovation, research and development, commercialization, and manufacturing activities in the fields of biopharma, medical device, diagnostics and digital health. Since its creation in 2007, the MLSC has strategically deployed over $700 million in Massachusetts, through a combination of grants, loans, capital infrastructure investments, tax incentives and workforce programs. These investments have created thousands of jobs and propelled the development of new therapies, devices and scientific advancements that are improving patient health and well-being in Massachusetts and beyond.