Home Economy Government $5M grant key to R.I. biotech deal in Smithfield

$5M grant key to R.I. biotech deal in Smithfield

MASSACHUSETTS-BASED BIOTECHNOLOGY FIRM Organogenesis Holdings Inc. has been authorized to receive up to $10 million in tax incentives by R.I. Commerce Corp. in order to establish a manufacturing facility at the former Rubius Therapeutics facility in Smithfield. The R.I. Life Sciences Hub also agreed to grant the company $5 million. This is a screenshot of the property listing on Loopnet.com. / COURTESY THE DAVIS COS.

The R.I. Life Science Hub was seeded with $45 million in the fiscal 2024 state budget and now the organization is using a big chunk of that money to woo a Massachusetts biotechnology firm to Rhode Island. Hub Chair Neil D. Steinberg says the group had been quietly negotiating for months with Organogenesis Holdings Inc.

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