Sanofi-Aventis Invests $65M in Cambridge, Massachusetts Growth
07/08/2010
"We believe that Cambridge is really the heart of oncology today,'' Hanspeter Spek, president of Sanofi-Aventis global operations, said in a company conference call this year. "We intend to benefit from this environment as a neighbor.''
Massachusetts is banking on the pharmaceutical industry to buoy the state's economy. Two years ago Governor Deval Patrick began a $1 billion, 10-year plan to offer tax incentives to life sciences companies. Last year, 26 companies received a total of $24.5 million.
Sanofi-Aventis has applied for $2.45 million in state tax credits from the Life Sciences Center, and will ask for another $6.5 million over the next four years.
Several other foreign pharmaceutical companies have facilities around Boston, such as Novartis, Merck, GlaxoSmithKline, and AstraZeneca.
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
How to Overcome NIMBYism in Data Centers
Q2 2024