Insulet, EyePoint & NanoDx receive $2M in tax incentives to create life sciences jobs
Photo | Courtesy of Insulet
Insulet's headquarters in Acton
Three Central Massachusetts companies have split more than $2 million in tax incentives as part of a broader state initiative to create new life sciences industry jobs across the commonwealth.
Insulet received the bulk of the region’s funding, as the Acton-based medical device manufacturer was awarded $1.52 million to create 83 positions through funding provided by the Massachusetts Life Sciences Center’s Tax Incentive Program, an initiative of the Mass Leads Act.
“The 83 new jobs associated with the $1.5 million in tax incentives will span a range of functions, with a focus on supporting our continued growth and operational excellence. These roles are part of our broader headcount projections for 2025 and include positions in our customer care, engineering, finance, human resources, and quality,” Angela Geryak Wiczek, Insulet senior director, corporate communications, said in a Monday email to WBJ.
The Insulet roles will include full-time positions in manufacturing, research and development, sales and marketing, customer care, engineering, finance, human resources, and quality. Qualified employees will be in full-time positions based in Massachusetts, with full-time employees residing outside of the state qualifying if they work hybrid or in-office.
“These positions reflect our commitment to building a flexible and inclusive workforce while continuing to invest in the local economy. We’re proud to contribute to job creation and innovation in the region and appreciate the support that enables us to expand our impact,” Geryak Wiczek said.
Additionally, EyePoint Pharmaceuticals was awarded $365,000 to add 15 jobs at its Northborough facility.
“The Northbridge facility is a critical component of our focus on bringing meaningful therapies to patients with serious retinal disease during an important time in EyePoint’s growth with global Phase 3 clinical trials of DURAVYU (EYP-1901) in wet age-related macular degeneration (wet AMD) underway. This state-of-the-art 40,000-square-foot manufacturing facility was built to meet FDA and EMA standards, and it will support global manufacturing for DURAVYU with expansion capacity,” Dr. Jay Duker, EyePoint President and CEO, wrote in an email to WBJ.
The company will use its incentives to add jobs primarily in supply chain, quality and engineering.
“The Northbridge facility reflects our commitment to execution and quality, our confidence in the potential commercial success of and global demand for DURAVYU, and our support of the local biotechnology industry in Massachusetts,” said Duker.
Southborough-based NanoDx received $168,000 to create six jobs. The company did not immediately reply to WBJ’s request for comment.
The region’s awardees were part of 33 companies that received a total of $29.9 million in tax incentives in investments, which are expected to generate 1,519 new jobs, according to a joint press release Thursday from the Gov. Maura Healey Administration; and the executive offices of Economic Development; and Administration and Finance.
The tax incentive recipients must maintain their job commitments for three years while regularly reporting documentation of the jobs they’ve created.
In October, Insulet and EyePoint were the recipients of a previous round of the tax incentive program, with Insulet using $1.92 million to establish 130 jobs while EyePoint utilized $500,000 for 20 jobs.
After Healey signed the Mass Leads Act in November, legislation raised the act’s statutory cap on life sciences tax incentives from $30 million to $40 million. Since the establishment of the MLSC, the state’s life sciences companies have committed to creating more than 19,800 jobs.
“The world looks to Massachusetts for the future of life sciences because we have built an ecosystem where innovative research, exceptional talent and public-private partnerships come together to drive significant progress,” Healey said in the release. “With impactful investments like MLSC’s Tax Incentive Program, we are creating new jobs and ensuring that the next generation of scientific breakthroughs are being developed right here in our state.”
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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