OMNIlife science Awarded $306,465 in Tax Incentives through Massachusetts Life Science Center’s 2013 Tax Incentive Program
EAST TAUNTON, Mass., Feb. 26, 2014 /PRNewswire/ — OMNIlife science, Inc. (OMNI), an established medical technology company targeting the $13 billion and rapidly growing global hip and knee replacement medical device sector, has been awarded $306,465 in tax incentives through the Massachusetts Life Science Center’s 2013 Tax Incentive Program. This amount is being awarded based on OMNI’s hiring commitment of 15 net new full-time equivalent employees for calendar year 2014.
OMNI is one of 33 Massachusetts companies to be awarded a tax incentive through the program this year. The Life Sciences Tax Incentive Program was established in 2008 as part of Massachusetts’ 10-year, $1 billion Life Sciences Initiative. The program authorizes up to $25 million in tax incentives each year for companies engaged in life sciences research and development, commercialization and manufacturing. The primary goal of the program is to incentivize life sciences companies to create new sustained jobs in Massachusetts.
The Life Sciences Act provides for 10 different tax incentives, in order to address the significant capital expenditures associated with the life sciences R&D cycle and the high costs of translating research into commercially viable products. This is the fifth year that incentives have been provided under the program.
OMNI CEO George Cipolletti stated, “We are strongly committed to growing our company and creating jobs in the state ofMassachusetts. I would like to express my gratitude to the Massachusetts Life Science Center for awarding us this incentive, which will allow us to expand our company and strengthen our initiatives.”
About OMNIlife science, Inc.
OMNIlife science, Inc., located in East Taunton, MA, is a privately held, established orthopedic company that is developing advanced implant, computer navigation and robotic technologies and procedures for the rapidly growing total joint replacement market. For more information, please contact the company at info@OMNIls.com.
Contact:
OMNIlife science, Inc.
Robert Phelps
Senior Vice President, Sales & Marketing
Phone: (508) 824-2444
SOURCE OMNIlife science, Inc.
