SOURCE: Industrial Info Resources

Industrial Info Resources

September 20, 2010 05:20 ET

Massachusetts Incentives Convince Cubist Pharmaceuticals to Expand in Place as $40 Million Construction Project Begins, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - September 20, 2010) -  Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas) -- As Cubist Pharmaceuticals (NASDAQ:CBST) (Lexington, Massachusetts) continues to increase its revenues, enjoying a 30% increase in earnings in 2009, the company requires more operational space. In terms of attracting incentives, a growing company with high profitability and the promise of new job creation sets off the bells and whistles necessary to get the ball rolling from state and local governments. In this case, Cubist was awarded a $1.7 million tax incentive from the Massachusetts Life Sciences Center, as part of the State's 10-year, $1 billion Life Sciences Initiative proposed by Governor Deval Patrick in 2007 and signed into law in June 2008. The incentive gave Cubist executives the final push to commit to further construction in Lexington.

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