MAR among firms to benefit from program

BOSTON – The Mass. Economic Assistance Coordinating Council has approved 14 projects – including one helping a Warwick company relocate to Attleboro – for participation in the Economic Development Incentive Program. More

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RHODE ISLAND & MASSACHUSETTS NEWS BRIEFS

MAR among firms to benefit from program

Posted 1/2/12

BOSTON – The Mass. Economic Assistance Coordinating Council has approved 14 projects – including one helping a Warwick company relocate to Attleboro – for participation in the Economic Development Incentive Program.

According to a news release, the projects will create more than 700 new jobs and retain 2,912 existing jobs. They will leverage more than $80 million in private investment and supporting construction projects across the state, the release said.

With the help of the program, MAR Seafood Inc. will build a new, 30,000-square-foot facility located in the Attleboro Industrial Business Park.

The company will relocate 35 net new jobs to Massachusetts and make a private investment of $2.32 million. Attleboro has approved tax-increment financing of approximately $170,000.

The incentive program is the state’s investment tax credit program for businesses. In 2009, Gov. Deval L. Patrick and the Legislature significantly reformed the program. Since the changes, 81 projects have received approval, leading to the creation of 4,979 new jobs, retention of 16,286 existing jobs and leveraging of $2.7 billion in private investment. •

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