Vertex Pharmaceuticals has signed a letter of intent with developer Joseph Fallon to lease a pair of 18-story towers to be built on Fan Pier in Boston’s Seaport District. The deal is expected to result in new Pharmaceutical Jobs. According to a report filed by bostonherald.com, Vertex was lured, in part, by a Tax Increment Financing offer of up to $12 million in tax incentives and $50 million in public infrastructure improvements in exchange for a promise to hire 500 new workers by 2015. The deal is expected to bring $60 million in new tax revenues to the city. Under the terms of the lease deal, developer Joseph Fallon will build 1 million square feet of office and research and development space on the waterfront next to the John Joseph Moakley U.S. Courthouse.
Vertex Expected To Bring New Pharmaceutical Jobs To Boston