TransMedics to Bring 900 Jobs and $75M in New Revenue to Somerville

It’s official. TransMedics Group, Inc., a global leader in organ transplant technologies, will relocate its global headquarters to Somerville's Assembly Innovation Park. The move represents a major win for the city, bringing an estimated $75 million in new tax revenue over ten years, 900 jobs to the area including 600 new positions by 2032, and significant community investments in education and public safety.

This milestone is the result of more than two decades of strategic planning and community collaboration that transformed Assembly Square from an industrial site into one of greater Boston's premier mixed-use innovation districts.

"As a world-leading MedTech company, TransMedics will fit right in here in Somerville with our growing life science hub," said Mayor Jake Wilson. "This is a win for transplant patients, the Commonwealth, the company, and Somerville residents. Not only can Somerville offer room for TransMedics to grow their critical services, but the new tax revenues and an influx of good jobs will help fund City services and open doors for workers in Somerville and the region.”

TransMedics will not only be moving offices but also research and development, equipment manufacturing, a flight operations center, and more to the Somerville location.

“It’s unusual to have a company with such diverse job opportunities across such a wide range of career paths from manufacturing to research and from entry level to advanced – so this offers opportunity across the board,” said Wilson. “It’s also so important to us that they are fully committed to connecting our students to internships, mentoring, and career paths as well. We look forward to facilitating TransMedics’ growth, expansion, and strong community partnership in Somerville."

How the Commonwealth and Somerville Worked to Make This Happen

Both the State and the City provided financial incentives to ensure TransMedics planned for growth and job creation in the Commonwealth.

The City supported TransMedics' expansion with an $18 million Tax Increment Financing (TIF) agreement approved by the City Council. This creative financing package will generate an expected $75 million (four times the value of the tax relief) in new revenue while creating hundreds of jobs and drawing in a daytime workforce expected to patronize local businesses.  

Through the Massachusetts Life Sciences Center (MLSC), the Commonwealth also proposed a performance-based incentive package that includes tax incentives of up to $18 million tied to the creation of as many as 600 new jobs, workforce development, and equipment investments to help ensure TransMedics can scale its operations and talent base in Massachusetts.

Community Benefits

TransMedics will lease the entire nearly 500,000-square-foot building at 188 Assembly Park Drive owned by BioMed Realty — the largest lab lease in Somerville's history. This represents 25 percent of the city's vacant lab space and is the second-largest life sciences lease in greater Boston this past year.

The agreement includes $230,000 in annual community investments over ten years supporting:

• Somerville schools
• STEM and robotics education programs
• Police and fire departments

The company will also invest an estimated $175-$225 million to complete the facility buildout, with operations beginning by January 2028.

"This good news is a great example of what we can achieve when our residents, the Mayor's Office, and the City Council work together for our community. Investing in job and revenue growth through creative financing like the TIF that the Council approved for TransMedics is helping Somerville do more than buck market trends. This is proof positive that the goal we set long ago to transform Assembly Square into a thriving neighborhood and life sciences hub is a success. I look forward to working with the new Administration to keep up this trend," said City Council President and Ward 6 Councilor Lance Davis. 

A Vision Decades in the Making

Somerville's success in attracting TransMedics reflects the city's long-term commitment to thoughtful growth and community-driven planning. Over two decades, the City transformed Assembly Square through coordinated efforts with community advocates, property developers, and pioneering companies.

“Really, this all goes back to the vision that grew out of a group of forward-thinking advocates on the Mystic View Task Force. Instead of just going for big box stores like Ikea, they pushed the City to plan and build a thriving neighborhood in Assembly that would draw high-quality businesses, create jobs and housing, and grow tax revenues. And then the City delivered,” said Tom Galligani, Executive Director of the Office of Strategic Planning and Community Development. “At the time, we were looking to be more independent of declining State funding. But in today’s financial environment, this kind of steady local revenue is all the more important to help keep Somerville financially secure.”

Room to Grow

TransMedics joins a growing cluster of life sciences, biotech, robotics, and advanced manufacturing companies in Somerville, including Mass General Brigham, Bristol-Myers Squibb, Philips Healthcare, Flagship Pioneering, UltraGenyx, FormLabs, Tulip, and Rise Robotics.

“The other great thing about a major move like this is that it gets the word out to other employers and leading businesses that Somerville is the place to be,” said Director of Economic Development Rachel Nadkarni, whose team facilitated the TIF. “We want other firms to know Somerville offers the key elements growing companies need: hundreds of residential units for workers, great dining and entertainment right there, easy transit access, world-class parks, and connectivity to the broader Boston region via I-93 and I-95 – as well as sustainable LEED certified buildings ready for customization. Somerville has 1.4 million square feet of lab space ready for occupancy and a vibrant community ready to welcome new partners.”

Persons with disabilities who need auxiliary aids and services for effective communication (i.e., CART, ASL), written materials in alternative formats, or reasonable modifications in policies and procedures in order to access the programs, activities, and meetings of the City of Somerville should please contact Adrienne Pomeroy in advance at 617-625-6600 x 2059 or apomeroy@somervillema.gov.