Governor Patrick Announces Life Sciences Initiative Victory With Organogenesis' New He...( Regenerative Medicine leader t...)
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Regenerative Medicine leader to expand space and employees in
Massachusetts, encompassing over 250,000 square feet for new global
headquarters
CANTON, Mass., April 3, 2008 /PRNewswire/ -- Joined by local officials and Organogenesis, Inc.'s CEO Geoff MacKay, Governor Deval Patrick announced today that the Massachusetts-based company, which was once planning to move its operations outside of the state, is initiating an expansion of its global headquarters, R&D and manufacturing facilities in Canton.
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,"
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| SOURCE Organogenesis, Inc. Copyright©2008 PR Newswire. All rights reserved |
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