GOVERNOR PATRICK ANNOUNCES LIFE SCIENCES INITIATIVE VICTORY WITH ORGANOGENESIS' NEW HEADQUARTERS
Regenerative Medicine leader to expand space and employees in Massachusetts, encompassing over 250,000 square feet for new global headquarters
The Governor's $1 billion Life Sciences Initiative was credited by Organogenesis, the world's leading regenerative medicine company, as a deciding factor in the company's decision to remain and expand in Massachusetts and thereby add hundreds of highly skilled jobs.
"I am pleased that Organogenesis will continue to build its future here in Massachusetts," said Governor Patrick, "This announcement speaks to our commitment to the long-term growth of this industry."
The Massachusetts Office of Business Development worked closely with Organogenesis to create a $12.9 million incentive package. In addition, the state has facilitated $5 million in low-interest loans for growth initiatives. The Life Sciences Initiative bill also addresses tax inequalities when compared with competing states.
"When we first began speaking to the office of Economic Development early last year, Organogenesis had 200 employees, and today, we have 325 with open positions for an additional 50 jobs in 2008 - all of these being high-skilled positions," said Organogenesis CEO Geoff MacKay. "Driven by both existing high revenue growth and major regulatory approvals, we are well on target for doubling our workforce."
"Governor Patrick, Secretary O'Connell as well as House and Senate leadership, have made a significant commitment to the life sciences sector and we are pleased to see their efforts coming to fruition," said Organogenesis CEO Geoff MacKay. "The Life Sciences Initiative bill solidifies the state of Massachusetts as the best place in the world to translate potentially life saving research into viable, successful businesses."
Currently located at 150 Dan Road, Canton, the new Organogenesis headquarters campus comprises three large buildings encompassing more than 250,000 square feet and within 100 yards of each other:
85 Dan Road
o Corporate offices will occupy this facility
o 78,000+ square feet, including 40,000 square feet of currently built-out office space (the remaining space is empty open bay for expansion)
o Upgrades may add up to 10,500 square feet to the building footprint
150 Dan Road
o To become main Research and Development labs and pilot manufacturing site for smaller product lines
o 79,000+ square feet
275 Dan Road
o To become main Manufacturing facility, including 60,000 square feet of manufacturing and quality labs, as well as shipping/receiving and other support systems
o 95,000+ square feet
Founded in 1985 to commercialize technologies initially discovered at the Massachusetts Institute of Technology (MIT), Canton-based Organogenesis delivers living cell therapy "on demand" to medical clinics. Organogenesis' signature product, Apligraf®, is the first bio-engineered living cell therapy to have received FDA approvals to close diabetic foot ulcers and venous leg ulcers.
Unveiled last spring, Governor Patrick's life sciences plan includes a 10-year, $1 billion investment package that will both enhance the Commonwealth's already nationally recognized assets in the fields of medicine and science, and fill gaps in federal funding to ensure the state's ability to support life science progress from the idea stage through the production and commercialization stages. Key to the Governor's Life Science Initiative is new legislation that will strengthen the Massachusetts Life Science Center and charge it with the execution of a life science mission focused on science and economic development, strategic investments at critical stages of the development cycle, and collaboration with the private sector to create innovation infrastructure critical to both researchers and companies.