The Chamber is pleased to announce that the 10-year, $1 billion Massachusetts Life Sciences Initiative was overwhelmingly passed by the Legislature last week and signed into law by the Governor on Monday. Click here to access the Chamber's latest Life Sciences Policy Update.

With the passage of this bill, Massachusetts can grow its leadership in this critical industry cluster, drive advancements in cutting-edge fields of research, and retain more of the bright young researchers graduating from our colleges and universities.

As you may know, the Chamber had testified in support of and worked to advance the goals of this initiative, which seeks to secure Massachusetts’ global leadership in the life sciences industry through a series of tax incentives, capital expenditures, training initiatives, research grants and other targeted life sciences investments. Included in this law is a Chamber-filed tax reform that extends the net operating loss (NOL) carry-forward period for life sciences companies in Massachusetts. 

Greater Boston’s life science cluster is vital to the regional economy and global community – improving healthcare delivery and outcomes, producing life-saving therapies and vaccines, and supporting thousands of high-quality jobs. The Chamber applauds the enactment of this landmark law and looks forward to engaging member companies in the life sciences industry and working with state government leaders and the Massachusetts Life Sciences Center during the critical implementation phase of this legislation.

For more information on the Chamber’s focus in the life sciences industry, click here. And don't miss the Chamber's Life Sciences Forum on June 26 at the the Boston Harbor Hotel with featured speaker Dr. Joshua Boger, Ph.D., president & CEO of Vertex Pharmaceuticals. Click here to register.