Massachusetts Economic Assistance Coordinating Council Awards $25.5 Million in Tax Credits to Businesses to Create, Retain Jobs   Projects include investments in Hasbro, Voya Financial, and more; Tax credits will help spur 1,318 new jobs and more than $309 million in private investment

BOSTON - Today, the Massachusetts Economic Assistance Coordinating Council (EACC) approved 11 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 commitments.   These projects are expected to create 1,318 net new jobs, retain 1,262 jobs statewide, and leverage more than $309 million in private investment in exchange for $25.5 million in state tax credits. Seven of this round’s applicants are manufacturers and four are projects located in Gateway Cities. Included in this round’s award recipients is Hasbro, Inc., which will relocate its Rhode Island operations to Massachusetts, a move celebrated by Governor Healey earlier this month.   “Through the Mass Leads Act, we strengthened the Economic Development Incentive Program to make it more accessible, transparent, and focused on what matters most: helping businesses grow and create jobs here in Massachusetts,” said Governor Maura Healey. "These awards show that when we partner with companies across industries, we can attract major investments, expand opportunities in every region, and keep Massachusetts the best place to do business.”  “We’re proud to award 11 new Economic Development Incentive Program awards this round,” said Lt. Governor Kim Driscoll. “With these awards, businesses now have resources to renovate facilities, invest in new manufacturing equipment, and create new jobs, driving economic growth in Gateway Cities and other regions.”  "Massachusetts makes smart investments that give our business community the resources they need to thrive,” said Economic Development Secretary Eric Paley. “This round of Economic Development Incentive Program awards reflects the strength of our economy in important sectors like advanced manufacturing, climatetech, R&D technology, and the creative economy, and demonstrates our commitment to creating high-quality jobs across every region of the state.”  EDIP is designed to foster job creation and stimulate business growth. A company that participates in EDIP may receive state tax credits in exchange for a commitment to create new jobs, retain existing jobs, and commit private investment to the project. This new round of tax credits is the second set of awards since the Healey-Driscoll announced reforms to EDIP in April. Initiated by the Mass Leads Act, the new EDIP increases flexibility, transparency, and access for businesses, strengthening Massachusetts’ position as a top business environment.    The EDIP certified projects include:   Hasbro, Inc. – Boston  Hasbro is a leading games, IP and toy company known for iconic brands such as Monopoly, Play-Doh, Transformers and Magic: The Gathering. The company will invest $25 million in the project and create 700 jobs in Massachusetts. The EACC has approved $14 million in EDIP tax credits.  Voya Financial Inc. – Boston  Voya provides clients with a variety of financial services, including retirement, investment, and insurance. The project involves the opening of Voya's first Boston office, including an investment of $4 million and the creation of 220 net new full-time professional service jobs between October 2025 and December 2029. The EACC approved $3.3 million in EDIP tax credits.  Saint Gobain Ceramics & Plastics Inc. – Northborough  Saint Gobain is a material manufacturer seeking to invest $120 million to turn its 26-acre campus into a world-class innovation center in Northborough and Marlborough. The project investment of $120 million will result in 13 net new jobs and the consolidation of approximately 50 jobs from other Massachusetts locations. The EACC approved $195,000 in EDIP tax credits.  Precision Optics Corporation Inc. – Littleton  Precision Optics manufactures optical medical devices for surgical and diagnostic procedures. The company will invest $2.6 million to relocate its corporate headquarters from Gardner to Littleton and expand operations, resulting in 86 new jobs. The EACC approved $1,290,000 in EDIP tax credits.  Entegris Inc. – Billerica  Entegris is an advanced manufacturing company that is planning a $100 million expansion of its headquarters, manufacturing, lab and R&D space. This project would include the retention of 439 existing jobs and creation of 200 new jobs. The EACC approved $3.5 million in EDIP tax credits.  Franklin Community Cooperative – Greenfield  The Franklin Community Cooperative is a cooperatively owned grocer operating two stores, Green Fields Market in Greenfield and McCusker's Market in Shelburne Falls. The project involves the relocation of the Green Fields Market to the former Wilson's Department Store in downtown Greenfield. The investment of $23.4 million will allow the co-op to increase its total retail space and create 20 new jobs. The EACC approved $300,000 in EDIP tax credits.  Trafa Pharmaceutical – Chicopee  Trafa Pharmaceutical is a distributor of health supplements. The company plans to construct a 50,000-square-foot distribution building that will allow for the consolidation of three warehouse buildings into a single facility and will result in 15 net new jobs. The EACC approved $225,000 in EDIP tax credits for this project.  Jain Americas – Pittsfield  Jain Americas is a manufacturer that serves the sign, display and graphic arts industries with extruded polycarbonate sheets and PVC sheets. The company intends to invest $8.5 million to purchase a building in Pittsfield and manufacturing equipment that will allow it to produce building exteriors like siding, trim, and shingles. The project will result in 31 new permanent jobs. The EACC approved $465,000 in EDIP tax credits.  Noble Carbon – Pittsfield  Noble Carbon is an energy management company that designs and manufactures smart circuit breakers to enable electrification and help homes and businesses optimize their energy usage and bills. The project involves the investment of $570,000 and the creation of six new jobs. The EACC approved $105,000 in EDIP tax credits.  Garden Properties & Development – Williamstown  Garden Properties will invest $7.7 million to rehabilitate the long-vacant Orchards Hotel in Williamstown into a fully operational hospitality venue with lodging, restaurant, and event space. The project will create 19 full-time jobs, eliminate blight, and support tourism and local economic development. The EACC approved $285,000 in EDIP tax credits.  AM Lithography – Holyoke  AM Lithography is a veteran-owned commercial printing, secondary packaging, and large format print business that has experienced significant growth. The project involves the investment of $8 million to relocate operations from Chicopee to Holyoke, retaining 124 jobs in Massachusetts and creating eight net new jobs. The EACC approved $1,860,000 in EDIP tax credits.  The Massachusetts Economic Assistance Coordinating Council (EACC) reviews and approves Economic Development Incentive Program projects and tax credit incentives. The EACC is part of the Executive Office of Economic Development’s Massachusetts Office of Business Development (MOBD), which assists businesses expanding in and relocating to Massachusetts, with specific attention paid to projects that create and retain jobs and invest capital. The MOBD team provides a highly responsive, central point of contact that facilitates access to resources, expertise, and incentive programs for businesses.