Study shows Massachusetts life science initiative creating jobs
BOSTON (AP) — Midway through Massachusetts’ ambitious 10-year, $1 billion life science initiative, the state is already reaping benefits.
That’s the finding of a new study by Northeastern University economists Barry Bluestone and Alan Clayton-Matthews.
The report found that after 5 years and more than $300 million in investments, Massachusetts has overtaken all competitor states in its rate of life sciences job creation.
The analysis found the state made $301 million in investments between June 2008 and June 2012, including more than $186 million for capital projects and nearly $57 million in tax incentives to companies that meet specific hiring goals.
By June 30, 2012, those companies had created 2,537 new jobs.
The report also concluded that investments in startup companies are a strong draw to Massachusetts for larger companies.
Gov. Deval Patrick signed the bill into law in 2008.