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Subsidy Tracker Individual Entry

Company: Vertex Pharmaceuticals
Parent Company: Vertex Pharmaceuticals
Subsidy Source: multiple
Location: Massachusetts
City: Boston
Project Description: pharmaceutical company headquarters and research center
Year: 2011
Major Industry of Parent: pharmaceuticals
Specific Industry of Parent: pharmaceuticals
Subsidy Value: $72,000,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
Number of Jobs or Training Slots: 500
Source of Data: The value of the subsidy package and the number of projected new jobs came from: Julie M. Donnelly, "With Layoffs, Vertex Will Pay Back $4.4 million in Tax Incentives," Boston Business Journal, October 29, 2013.
Notes: The package included $50 million in infrastructure improvements at the company's new facility, $12 million in tax increment financing assistance from the city and up to $10 million in state corporate tax credits linked to job creation. In 2013 Vertex announced that it would eliminate 370 jobs and return the $4.4 million in tax incentives it had received. See: Robert Weisman, "Vertex to cut jobs, return tax credits," Boston Globe, October 30, 2013. Overlap with main Subsidy Tracker data: the $4.4 million in state tax credits are listed separately. Overlap with main Subsidy Tracker data: several tax credit listings totaling about $5 million.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.