If the United States is a cell of the biopharma industry, then Massachusetts is surely the nucleus. In 2020 alone, over 40% of venture funding earmarked for U.S. biopharma developments was received by companies in the Commonwealth. A record high $5.8 billion in venture capital investments boosted Massachusetts-based biopharma even further, bringing 21 IPOs public that same year – a 110% increase over 2019, accounting for 32% of the nation’s biopharma IPOs by volume, according to a report from the Massachusetts Biotechnology Council (MassBio). Employment throughout the sector in the state has exploded with research and development jobs increasing by 94% over the past 15 years, by 45% in the last decade, and by 18% in 2019 alone. Biopharma’s economic impact in Massachusetts is staggering, with $13.5 billion reportedly earned by the industry here. The Town of Mansfield has been steadily preparing for the rise of life sciences companies by evaluating its resources, optimizing its solid infrastructure, and custom creating a biopharma mecca to meet R&D needs. Mansfield was named a Gold BioReady® Community by MassBio, illustrating the town’s extensive commitment to advancing the success of the life sciences industry.
Why should biotech startups or companies considering relocation choose a BioReady Community? Here are some of the reasons to seek this advantage:
- MassBio has taken the guesswork out of determining the most advantageous destinations in the state to support the biotechnology industry. These communities have adopted policies to reduce red tape and ease new construction or renovation of laboratory or manufacturing facilities.
- Special permit zoning is available for biotech labs and manufacturing use.
- Municipal sewer and water must be available throughout industrial and commercial areas.
- For communities to be considered Gold BioReady, like Mansfield, they must meet the following criteria:
- A local contact has been identified at the Town Hall to assist with biotech projects.
- The town allows biotech manufacturing and laboratory uses by right.
- Buildings or land sites have been specified in municipal plans for biotechnology uses.
- The town has streamlined its site plan review meetings, bringing together all appropriate departments, to outline the process for approving industrial and commercial projects.
- The town has buildings or sites pre-permitted for biotech uses.
Mansfield is completely committed to offering the best opportunities for success to the life sciences industry. The Bio-Incubator, an open-concept office space and laboratory that can hold 12 startups with 300,000 square feet of room to grow, currently has limited space available, and BioDivercity, a groundbreaking full-service life sciences community, will soon open.
If you’re interested in doing business in Mansfield, please reach out to initiate the process with a letter-of-intent. From there, the town will work with your company to develop documentation needed to participate in our tax incentive program, keeping more money in your pocket.