News Summary
Organogenesis, a Massachusetts-based regenerative medicine company, plans to invest nearly $100 million in a new biomanufacturing facility in Smithfield, Rhode Island. Covering around 123,000 square feet, the facility aims to produce skin-like products for healing chronic wounds. Supported by over $13 million in tax incentives from the Rhode Island Commerce Corporation, the project is expected to create at least 103 jobs by 2026. Local officials are optimistic that this expansion will contribute to the development of a biotech hub in the region.
Rhode Island Welcomes New Biomanufacturing Facility
Organogenesis, a Massachusetts-based regenerative medicine company, is set to invest nearly $100 million in developing a biomanufacturing facility located at 100 Technology Way in Smithfield, Rhode Island. The new plant aims to enhance the production of skin-like products that aid in healing chronic wounds and is expected to occupy approximately 123,000 square feet.
On May 20, 2025, the company celebrated the commencement of this significant project by welcoming local dignitaries to the site. The biomanufacturing facility will undergo extensive upgrades to establish a state-of-the-art cGMP (Current Good Manufacturing Practice) environment, crucial for advanced biomanufacturing practices.
Strategic Location and Infrastructure
The facility’s strategic placement off Interstate 295 is designed to bolster its accessibility to major life sciences hubs in Cambridge and Boston, enhancing its competitiveness within these vital manufacturing corridors. The robust utility infrastructure surrounding the facility will meet the heightened demands typical of modern biomanufacturing.
Organogenesis has solidified a full-building lease agreement with The Davis Companies, with the transaction facilitated by leading brokerage firms. Robert Coughlin and Bobby Jangro of JLL represented Organogenesis, while Mark Winters and Tyler McGrail of Newmark took the lead for The Davis Companies.
Financial Support and Economic Impact
To assist in the establishment of the new manufacturing facility, the Rhode Island Commerce Corporation has extended over $13 million in tax incentives to Organogenesis. This financial support encompasses $10 million through the Rebuild Rhode Island tax credit program and an additional $3.2 million under the Rhode Island Qualified Jobs Incentive Act.
As a requirement to secure these tax credits, Organogenesis must create a minimum of 103 jobs within a four-year timeframe starting in 2026. Furthermore, half of the $5 million contribution from the Rhode Island Life Science Hub will be released upon lease signing, with the remaining funds contingent on the completion of facility improvements.
Local Optimism and Future Potential
Local officials express optimism that Organogenesis’ expansion in Smithfield will not only stimulate the local economy but also contribute to the establishment of a biotech hub in northern Rhode Island and southern Massachusetts. Organogenesis currently maintains a presence in multiple states, including Florida, Alabama, and California, highlighting its growing impact on the life sciences sector across the country.
Company Background
Founded in 1985, Organogenesis originated from technology developed at the Massachusetts Institute of Technology (MIT). As of December 19, the company is publicly traded on Nasdaq and holds a market valuation of over $424 million.
Deeper Dive: News & Info About This Topic
- Boston Real Estate Times
- Wikipedia: Biomanufacturing
- Boston Globe
- Google Search: Organogenesis biotech
- GoLocalProv
- Google Scholar: biomanufacturing tax incentives
- Providence Business News
- Encyclopedia Britannica: biotechnology
- Connect CRE
- Google News: Organogenesis Rhode Island
