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Two Waltham science companies receive collective $3.2m in state tax incentives to create new jobs

Posted by Jaclyn Reiss  March 12, 2013 03:45 PM

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Two life sciences companies in Waltham have been awarded a total of $3.2 million in tax incentives from a quasi-public state agency this month that will help to create 135 new jobs in town.

Waltham companies Nova BioMedical Corporation and Perkin Elmer, Inc. were awarded $1.73 million and $1.47 million, respectively. Nova BioMedical will add 75 new jobs; Perkin Elmer will add 60.

The money is part of a collective $23.85 million tax incentive program through the Massachusetts Life Sciences Center that awarded tax incentives to 25 different science companies in the state, in return for those companies creating a total of over 1,000 new jobs.

The Life Sciences Tax Incentive Program, established in 2008, is part of the state's 10-year, $1 billion initiative to spur sustainable job creation at Massachusetts life sciences companies.

The program authorizes up to $25 million in tax incentives each year for the companies.

The program, currently in its fourth year, has awarded tax incentives totaling more than $50 million to nearly 50 companies, creating a total of over 1,800 jobs.

State Representative Thomas Stanley, who represents Waltham, said in a statement that he was pleased to see the incentives awarded to local companies.

"Awards given through MLSC’s tax incentive program will result in the creation of much-needed jobs in Waltham and the Commonwealth and will also help keep our state at the forefront in life sciences innovation," Stanley said.

State Representative John Lawn, who also represents part of Waltham, agreed.

"Together over 135 jobs will be added to our local economy," Lawn said. "We in state government need to continue to support businesses like these and partner with them to create jobs."

Companies in Cambridge, Weston, Framingham, Billerica, Raynham, Beverly, Bedford, Boston, Canton, Westborough, and Lexington also received a chunk of the incentive money.

For a full list of recipients and more information on the program, visit the program's website.

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Jaclyn Reiss can be reached at jaclyn.reiss@globe.com

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