Massachusetts Economic Assistance Coordinating Council Approves New Projects to Receive Nearly $4.7 Million in State Tax Credits Projects Will Create 309 New Jobs, Retain 469 Existing Jobs, and Spur $18 Million in Private Investment

BOSTON – The Massachusetts Economic Assistance Coordinating Council (EACC) approved five 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. The projects will receive $4,686,188 in state tax credits and are expected to create 309 net new jobs, retain 469 jobs statewide, and leverage approximately $18 million in private investment.   The EACC also approved three new Vacant Storefront Projects that will receive EDIP refundable tax credits of $10,000 each.   “Massachusetts continues to be a leader in fostering business growth and job creation. Through the Economic Development Incentive Program, we are making strategic investments that will drive innovation, support industries critical to our state and ensure long-term economic resilience,” said Economic Development Secretary Yvonne Hao. “From manufacturers to small storefronts, we are strengthening our economy and ensuring that communities across Massachusetts have the tools they need to thrive.”  “The Economic Development Incentive Program remains a vital tool in supporting businesses and helping them expand, create jobs, and invest in our communities,” said Undersecretary of Economic Foundations Ashley Stolba. “This latest round of awards highlights the diverse range of industries that contribute to our economy, from high-tech manufacturing to small businesses revitalizing downtown districts. We are excited to see these projects drive growth and opportunity across Massachusetts.”  Two of this round’s applicants are manufacturers and two are projects located in Gateway Cities. 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, or tax incremental financing (TIF), in exchange for a commitment to create new jobs, retain existing jobs, and commit private investment to the project.  CD PROJEKT RED Inc. & The Molasses Flood - Waltham  CD PROJEKT RED is an independent video game development studio based in Poland that has produced popular games like The Witcher and Cyberpunk 2077. The company is seeking to expand its presence in Massachusetts by leasing an additional 9,147 square feet of space and investing approximately $4.5 million to outfit the space. The company expects to create 141 jobs over the next three years with an anticipated average salary of over $170,000 per job. The EACC has approved $2,128,188 in EDIP tax credits.  Petricca Industries Inc. & Unistress Corp. - Pittsfield  Unistress Corp. is a third-generation family business located in the City of Pittsfield that manufactures precast/prestressed concrete products used in the construction of concrete structures such as parking garages, bridges, stadiums and microchip plants. The company is seeking to expand manufacturing space by 15,510 square feet to support contracts for microchip plants in the northeast. The EACC approved $750,000 in EDIP tax credits and the City of Pittsfield approved a 10-year TIF valued at $652,786.  StormTrap LLC - Amesbury  StormTrap LLC, founded in 2002, provides environmentally friendly stormwater management solutions. The company specializes in designing and engineering precast concrete systems aimed at controlling the volume and discharge timing of stormwater runoff. The company is seeking to establish an East Coast presence by investing $370,000 to lease and improve 2,200 square feet of space that will allow the company to hire 25 permanent full-time employees in the next five years. The EACC approved $375,000 in EDIP tax credits.  Aved Electronics LLC - Lowell  Aved Electronics LLC designs and manufactures custom battery packs, cable harnesses, and electro­mechanical assemblies primarily for the medical device OEM market. Aved addresses these needs in high-reliability applications for security, robotics, oceanographic, and industrial applications. The company intends to invest $5 million to move from a 52,000-square-foot facility in Billerica to an 80,000-square-foot facility in Lowell. The project is anticipated to retain 172 jobs and create 76 new permanent full-time employees. The EACC approved $1,125,000 in EDIP tax credits and the City of Lowell waived $75,000 in permitting fees.  Ja’Duke Inc. - Greenfield  Ja'Duke offers childcare, performing arts, and drivers’ education courses in Turners Falls. The company is investing more than $2 million to purchase and renovate 270 Main Street in Greenfield into a 25,000-square-foot educational space that will complement its existing location. The EACC approved $270,000 in EDIP tax credits and the City of Greenfield approved a five-year TIF valued at $20,585.  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.  Pulse Café - Springfield  Pulse Cafe offers handcrafted, plant-based food to the Pioneer Valley. Pulse currently operates in Hadley. The EACC awarded Pulse Café $10,000 in EDIP state tax credits and the City of Springfield provided the business with $25,615 of Community Development Block Grant funds, which is a federal program that supports community development activities to build stronger and more resilient communities, to support the business’s second location in Springfield.  Skin by Terry - Medford  Skin by Terry provides specialized skincare services tailored to the unique needs of minority skin. The EACC awarded Skin by Terry $10,000 in EDIP state tax credits and the City of Medford provided the business with $10,000 of Community Development Block Grant funds to support the business’s expansion.  Lazy Cat Lounge - Lowell  Lazy Cat Lounge is a combination coffee shop, gift shop and pet therapy business where patrons can book time in the "cat lounge." The EACC awarded Lazy Cat Lounge $10,000 in EDIP state tax credits and the City of Lowell provided the business with $30,000 interest-free, forgivable loan.