Local Firms Among 16 To Land Tax Deals
The state has approved new tax breaks for 16 companies, including five in Central Massachusetts, which it says will create and retain 4,687 jobs.
The companies will be part of the state's Economic Development Incentive Program, which offers tax credits based on a company's promises for employment.
Office furniture manufacturer AIS received $1.3 million in state tax credits to help it relocate its Hudson and Mansfield operations to Leominster while expanding its production. The company promises to create 126 new jobs, retain 235 jobs and invest $13 million in the project.
BNY Mellon Investment Servicing received $316,834 in tax credits for its expansion in Westborough, which the company promises will bring in 250 positions previously located in Rhode Island and add another 146 new jobs. Private investment in the project will be $3.2 million.
Three other Central Massachusetts projects won state approval for municipal TIF, or tax-increment financing agreements. Dixie/Georgia Pacific received a $3.2 million TIF, to increase production at its Leominster plant, creating 25 new jobs and retaining 213. EClinicalWorks of Westborough won a TIF, worth $177,000 over five years, to expand its headquarters, creating 130 new jobs and retaining 400. Saint Vincent Hospital of Worcester received a $9.8 million, 10-year TIF to build a new cancer center at CitySquare.
Correction: An earlier version of this story incorrectly identified the Hudson company that is consolidating its opeartions in Leominster. The company is named AIS.
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