Overview of the Massachusetts Life Sciences Center

Additional information about the Massachusetts Life Sciences Center and its responsibilities.

Overview

The Massachusetts Life Sciences Center (MLSC) was established by Section 24 of Chapter 123 of the Acts of 2006 and codified as Chapter 23I of the Massachusetts General Laws as an independent quasi-governmental organization to stimulate economic development and job creation through research and development, manufacturing, and commercialization of health-related innovations in the life sciences.¹ MLSC’s activities include providing grants, loans, and tax incentives, as described in this report’s appendix, to private institutions and grants to public institutions, as well as strengthening bonds across the Massachusetts life science community. Although it was established in 2006, MLSC had no significant activity, and only one employee, through the fiscal year that ended in June 2008. On June 16, 2008, Chapter 130 of the Acts of 2008 (the Life Sciences Act), which committed the Commonwealth to investing $1 billion in the life science industry over a 10-year period, was signed into law.

The table below summarizes the grants, loans, and tax incentives MLSC awarded from its inception through the end of the audit period, as well as the number and totals awarded only during the audit period.

MLSC Financial Awards

Type of Award	Number of Awards July 31, 2006– June 30, 2017	Amount Awarded July 31, 2006– June 30, 2017	Number of Awards July 1, 2013– June 30, 2017	Amount Awarded July 1, 2013– June 30, 2017
Grants	233	$513,771,882	119	$141,828,889
Loans	32	22,441,196	7	6,249,696
Tax Incentives	206	181,751,836	95	84,781,596
Total	472	$717,964,914	221	$232,860,181

Grant award amounts actually disbursed from MLSC’s inception through the end of the audit period totaled $464,611,390. Of this amount, $237,068,847 was disbursed during the audit period. Loans disbursed totaled $22,441,196 from inception, of which $9,234,196 was disbursed during the audit period.

A seven-member board of directors oversees MLSC’s operations. The Secretary of Administration and Finance and the Secretary of Housing and Economic Development, or their designees, are the board’s co-chairs. Four board members are appointed by the Governor, and in accordance with MLSC’s enabling legislation, the remaining board member is the president of the University of Massachusetts or his/her designee. The board appoints a president, who is the chief executive officer of MLSC and oversees 14 staff members.

A certified public accounting firm audits MLSC’s annual financial statements in accordance with generally accepted government auditing standards.

1. According to Section 2 of Chapter 23I of the General Laws, “life sciences” are “advanced and applied sciences that expand the understanding of human physiology and have the potential to lead to medical advances or therapeutic applications including, but not limited to, agricultural biotechnology, biogenerics, bioinformatics, biomedical engineering, biopharmaceuticals, biotechnology, chemical synthesis, chemistry technology, diagnostics, genomics, image analysis, marine biology, marine technology, medical devices, nanotechnology, natural product pharmaceuticals, proteomics, regenerative medicine, [ribonucleic acid] interference, stem cell research and veterinary science.”

Date published:	February 14, 2018