June 24, 2019
The life science sector will be growing in Hopkinton. That is where Lykan Bioscience, Inc. plans to expand its new cell and gene therapy manufacturing operations and lead the way in developing cutting-edge immunotherapy treatments for cancer and other illnesses.
“The Town is excited about Lykan Bioscience’s plan to locate in Hopkinton,” said Hopkinton Town Manager Norman Khumalo. “We look forward to this partnership as it helps to advance the Town’s strategic goal of attracting a life science company to the community, creating jobs and increasing the tax base. We are also grateful for the BDS team’s expertise throughout the tax incentives process.”
When the Lykan Bioscience team considered Hopkinton, Massachusetts as a possible location for their new state-of-the-art clinical manufacturing operation, they turned to Business Development Strategies, Inc. (BDS), the leading government tax incentives consulting firm in the state, for help with securing a tax incentives package.
Lykan Bioscience CEO Anthony Rotunno needed a team of government incentive specialists who could achieve a positive outcome for the Company’s fast-track project. “Having worked with BDS President Lynn Tokarczyk in the past, I was familiar with the Company’s impeccable track record, so I reached out to Lynn and BDS for this project. Their knowledge and expertise exceeded our expectations on all levels,” Rotunno said.
Hopkinton’s local officials made it clear during initial discussions that they had an interest in attracting Lykan Bioscience to the community and were willing to work within the Company’s tight timeline. In just three months, the BDS team and the local leaders brought out more than 150 Hopkinton residents to a Special Town Meeting and assisted in securing a Tax Increment Financing (TIF) package from the Town, with effort and support from the Hopkinton Chamber of Commerce. As a result, the emerging life science company has signed a lease and is moving ahead with plans to renovate a vacant 63,600 square foot building and invest $12 million in the project. The advanced manufacturing facility is planned to open in 2020 and will bring 125 new jobs to the community.
Tokarczyk noted the BDS team’s contributions as key to achieving tax incentives for the Lykan Bioscience project. “We worked round the clock to keep the project on the fast track to success,” explains Tokarczyk. “With more than 15 years of experience in government tax incentives consulting, the BDS team is uniquely positioned to help our clients achieve their incentives goals and invest and grow in Massachusetts.”