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.