MARLBOROUGH – A partner to the biopharmaceutical industry on Donald Lynch Boulevard has been approved for a Tax Increment Financing (TIF) agreement with the city.
The City Council approved the measure during its meeting on Monday, Nov. 27. The council’s Finance Committee had given the green light for the TIF on Monday, Nov. 20.
During the Finance Committee meeting, Meredith Harris from the Marlborough Regional Chamber of Commerce and Maurice Phelan, president of Sartorius Stedim North America, presented details and fielded questions about the TIF.
In a letter sent to the City Council, Mayor Arthur Vigeant said the company is “seeking a local-only TIF incentive that will help them unlock credits with the Mass Life Science Center.”
The facility employs 100 people at two locations at 150 Locke Drive and 450 Donald Lynch Blvd. Since arriving in 2020, the company has invested $135 million in both locations.
“We are extremely committed to the city,” said Phelan.
Once the TIF is approved, Sartorius Stedim North America will invest $100 million for a buildout of 200 Donald Lynch Blvd. to create the Sartorius North American Center for Bioprocess Solutions; it will bring 120 additional new full-time jobs to the city by the end of 2025.
Phelan said the proposal is an opportunity to bring more research and development to the area.
“These new positions include lab and manufacturing technicians, software developers, engineers, scientists, research analysts and product specialists,” said Vigeant. “Sartorius is a leading biopharmaceuticals company who is helping biotech scientists and engineers across the entire globe to safely develop and manufacture medications.”
Phelan said that the firm’s clients include Novartis and Moderna.
The TIF will begin on July 1, 2024, and it will exempt 100% of the company’s real property tax for the project area. The TIF will decrease to 90% for fiscal 2026, 75% for fiscal 2027, 50% for fiscal 2028 and 20% for 2029.
