星期五, 9月 20, 2024

麻州經濟援助協調會批准130萬元抵稅優惠 預計帶來4480萬元私人投資

Massachusetts Economic Assistance Coordinating Council Approves New Projects to Receive Over $1.3 Million in Tax Credits

 
Projects Will Spur $44.8 Million in Private Investment, Create 120 New Jobs, and Retain 1,521 Existing Jobs

BOSTON – The Massachusetts Economic Assistance Coordinating Council (EACC) has approved three projects for participation in the Economic Development Incentive Program (EDIP), a program that seeks to create new jobs and help businesses grow by offering credits to lower taxes in exchange for job creation.   

These projects are expected to leverage approximately $44.8 million in private investment, create 120 net new jobs and retain 1,521 jobs statewide. Of this round’s applications, one incentive recipient is a manufacturer, and two projects are located in Gateway Cities. Additionally, the EACC has approved two new Vacant Storefront Projects that will receive EDIP refundable tax credits of $10,000 each.  

“The Economic Assistance Coordinating Council provides important business development tools for the state that help businesses expand and add jobs,” said Economic Development Secretary Yvonne Hao. “We are pleased this round of awards will support businesses working to advance everything from manufacturing to the arts and look forward to seeing the economic activity these investments make possible in the years to come.”  

“We are proud to announce this round of awards, which will support businesses both small and large and from key industries like manufacturing and telecommunications,” said Undersecretary of Economic Foundations Ashley Stolba. “The Economic Development Incentive Program is a vital resource for economic development across our state, from Quincy to Worcester and beyond.”  

The projects include:  

EDIP Certified Projects 
EDIP is designed to foster job creation and stimulate business growth. A company that participates in EDIP may receive state tax credits and local property tax incentives in exchange for a commitment to create new jobs, retain existing job, and commit private investment to the project. 

Granite Telecommunications LLC - Quincy 
Granite Telecommunications LLC is a nationwide wholesaler of landline phone lines headquartered in Quincy. Since June 2002, Granite’s primary business is providing telecommunications services, including local and long-distance dial tone, broadband, and other related services to multi-location businesses and government entities. Granite is investing more than $23 million to expand its headquarters and add 75 new jobs. The EACC approved $1,125,000 in EDIP tax credits and the City of Quincy amended a tax increment financing agreement (TIF) yielding 12 years and real estate savings of $2,705,494. 

Emseal Joint Systems LTD - Westborough 
Emseal Joint Systems manufactures and distributes pre-compressed sealants and expansion joints to commercial, industrial, and institutional users worldwide. In 1990, Emseal moved its U.S. operations from Stamford, Conn. to the current 30,000-square-foot headquarters in Westborough, Mass. Emseal is investing $7,094,000 to expand in Westborough, including leasing an industrial building adjacent to the company's current location to accommodate warehousing, manufacturing and additional office space. The EACC approved $196,341 in EDIP tax credits and the City of Westborough approved a 10-year TIF of $23,589. 

Local-Only Tax Increment Financing (TIF) Projects 

A TIF is a negotiated agreement between a business and host municipality. The percentage exemption applies to the incremental increase of assessed value of the parcel due to the private investment and the agreement may include exemptions on personal property tax.    

Creative Hub Worcester - Worcester 
Creative Hub Worcester is an art community center working to increase creative expression in underrepresented communities. Creative Hub is investing $14,705,000 to renovate and preserve the historic former Ionic Avenue Boy's Club building in Worcester, located in MassDevelopment's Transformative Development Initiative Main South District. The project will create 25 net new jobs, and the City of Worcester approved a 10-year TIF valued at $751,686. 

Vacant Storefront Program
The Massachusetts Vacant Storefront Program helps municipalities revitalize their downtowns and commercial areas. Municipalities may apply to the EACC to designate a defined downtown or other commercial area as a Certified Vacant Storefront District. After such a designation, a business may secure a commitment of local matching funds in order to apply to the EACC for refundable EDIP tax credits for leasing and occupying a vacant storefront in that district. 

Vacant Storefront Projects:

Brilla Coffee LLC - Gardner 
Brilla Coffee is a family-owned business with a coffee roasting facility and coffee shop in Holden. The company has identified a location in downtown Gardner to open another coffee shop. EACC awarded Brilla $10,000 in EDIP state tax credits and the business also received a $20,000 Vacant Storefront Program grant from the City of Gardner requiring the shop to remain open for 24 months.  

Gifu Lowell - Lowell 
Gifu is an owner-operated quick service Japanese restaurant with locations in Auburn and Boston. Gifu is seeking to open its third Massachusetts location in Lowell. The EACC awarded Gifu $10,000 in EDIP state tax credits and the business received a $10,000 Storefront Improvement Program grant from the City of Lowell.  

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