Even though Sanofi-Aventis believes Cambridge is “the heart of oncology today,”
the company plans to ask the state for $9 million in subsidies to expand here.
The company says the $65 million expansion in Cambridge that will create about 300 jobs,
"We believe that Cambridge is really the heart of oncology today,‘’ Hanspeter Spek, president of Sanofi-Aventis’s global operations, told financial analysts and investors in a conference call earlier this year. “We intend to benefit from this environment as a neighbor.”
One less neighbor, it seems. Merck & Co. announced today that it would be shuttering a Cambridge research shop.
Supporters of the state’s “life sciences initiative” say the price tage of $30,000 per job for
represents a good investment. Others call is a corporate give-away — noting that companies like SA will come to Massachusetts without tax breaks.
Still, cities and towns have gotten smarter about these efforts. Instead of writing a check, the state will likely write a contract with a “clawback” provision. That means SA will have to pay the state back if it doesn’t produce the jobs.