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Organogenesis told to create about 103 jobs in Smithfield, with pay around $110,000
Summary
Presenters said the project would begin with roughly 15 employees and ramp to about 103 jobs over four years, with an approximate average annual salary of $110,000; job-based tax credits require meeting thresholds to qualify.
Board presenters told members Organogenesis expects to begin operations with a small initial staff and expand over several years. "It's about a 100 jobs," Jeff Miller said during the presentation, later clarifying a target of "103 jobs" and describing a ramp from about 15 employees to full staffing over four years.
Staff said the Qualified Jobs tax credits are tied to meeting specific thresholds and that the credits will flow only for positions that qualify under the program. Board members asked whether additional jobs beyond 103 would trigger extra credits; staff answered that additional credits beyond the negotiated package were not part of this agreement.
