Massachusetts offers $40M in tax incentives to spur 1,600+ life-science jobs

Massachusetts announced $40 million in tax incentives for 38 life‑science companies, targeting the creation of about 1,644 new jobs.

Most of the companies-31 of them-will expand outside Boston and Cambridge, representing roughly 71% of the positions, while Boston and Cambridge each expect over 200 jobs.

Recipients include AstraZeneca, Bristol Myers Squibb and Insulet. Four firms are receiving more than $1 million, and the largest award of $10 million goes to Insulet for 250 jobs in Acton.

The top five locations for new jobs are Cambridge (262), Acton (250), Waltham (212), Boston (207) and Devens (179). Companies must add and retain the positions through Dec 31 2028.