The Massachusetts Economic Assistance Coordinating Council (EACC) is providing nearly $10 million in tax credits to eight businesses to support job creation, job retention, and private investment across the state. These projects are expected to create 450 new jobs, retain more than 2,300 existing positions, and generate approximately $158 million in private investment. The awards are the first issued under the reformed Economic Development Incentive Program (EDIP), a key part of the Mass Leads Act aimed at enhancing Massachusetts’ business climate, as per Mass.gov.
Governor Maura Healey and Lt. Governor Kim Driscoll have expressed support for the initiative, noting that the tax credits will help companies expand operations, invest in equipment, and increase employment opportunities throughout the state, including in Gateway Cities. The program targets industries such as manufacturing, clean technology, and research and development.
Among the recipients, Formlabs Inc. will receive $375,000 to open a new industrial lab facility in Greater Boston, with a commitment to create 25 jobs. Emseal Joint Systems Ltd. is receiving $345,000 to expand its facility in Westborough and add 23 positions. Schneider Electric has been awarded $600,000 to establish a new headquarters in Boston and create 40 jobs. C2S Energy LLC is set to receive $525,000 to retain 50 current jobs and hire 35 more. Abside Networks Inc. will receive $930,000 to support research and production of radio units, with plans to add 62 jobs.
The EACC aims to encourage business growth and strengthen the local workforce by linking state tax incentives to tangible economic outcomes.
