ProTom International was authorized to receive a $150,000 tax incentive award from the Massachusetts Life Sciences Center. ProTom was one of 22 companies authorized to receive the competitive award recognizing commitment to new, long-term job creation in life sciences technology.
The Life Sciences Tax Incentive Program was established as part of Massachusetts’ $1 billion Life Sciences Initiative. Jointly administered by the Massachusetts Life Sciences Center and the Massachusetts Department of Revenue, the Tax Incentive Program authorizes tax incentives for growing companies engaged in life sciences research and development, commercialization and manufacturing.
In 2016 ProTom hired 25 full-time employees. The average base salary for these positions is over $110,000, representing the high skill set and education of the employees.
In 2016 ProTom also signed long-term contracts with 15 consultants.
“ProTom’s creation of new jobs, current, and future, is a reflection on our company’s growth and on our commitment to Massachusetts. ProTom has forged strong ties with the Commonwealth including an ongoing collaboration with the Massachusetts Institution of Technology, and an engagement with the proton therapy center at Massachusetts General Hospital,” said Stephen Spotts, CEO of ProTom. “I am honored that ProTom’s commitment to job creation and to growing the economy in Wakefield and across Massachusetts, has been recognized.”
About ProTom International
ProTom International is dedicated to a single mission to increase the availability and affordability of clinically advanced proton beam therapy technology for physicians and the patients for whom they care.
ProTom designed its proprietary proton therapy technology in ways that significantly lower the capital and operating costs of proton centers and accelerate the adoption of this clinically-advanced treatment modality in the fight against cancer.
More information about the Massachusetts Life Sciences Center award can be found here.