Job Creation Incentive Program
Biotechnology and medical device manufacturing companies are eligible to receive incentive payments for new job creation. Massachusetts is committed to nurturing these fast-growing sectors and this incentive payment rewards companies for creating well-paying positions whose skills sets are forecast to be in high demand for the future.
Eligibility Requirements
The jobs incentive payment is for newly created biotech and medical device manufacturing jobs in Massachusetts.
The job incentive payment is available to:
- Corporations engaged primarily in the research, development, production or provision of biotechnology
- Manufacturers engaged in the production of products for a medical device manufacturing business primarily engaged in manufacturing medical or surgical instruments, surgical appliances or supplies, or electro-medical, electrotherapeutic or irradiation apparatus.
- Marine science technology companies
Terms and Conditions
- Through the Commissioner, the Department of Revenue is authorized to make a jobs incentive payment to a qualifying biotechnology or medical device manufacturing company.
- In order to qualify for the job incentive payment, qualifying companies must, in one calendar year, increase their level of Massachusetts employment by at least 10 full-time equivalent biotechnology jobs over the previous calendar year.
- The jobs incentive payment equals fifty-percent of the salary attributable to the increase of biotechnology jobs multiplied by the Massachusetts personal income tax rate.
- The payment is made in equal installments to qualifying companies over a three year period.
How to Apply
- A company may request a jobs incentive payment beginning in calendar year 2005 and through calendar year 2009 for an increase in employment in calendar years 2004 through 2008, respectively.
- The latest allowed request may be submitted on December 31, 2009 for a jobs incentive payment based on an increase of at least 10 full-time biotechnology jobs in calendar year 2008 over the company’s weighted average employment in calendar year 2007.
- To apply online
External Resources/Helpful links
Technical Information Release for Job Creation Incentive Payment (TIR 04-19) 
Applicable Regulations/Statutes
Contact:
Massachusetts Office of Business Development
10 Park Plaza, Suite 3730,
Boston, MA 02116
Phone: 617-973-8600
Fax: 617-973-8554
Business Resource Team (BRT)
(877) BIZ-TEAM