Economic Development Projects Allow Companies to Expand and Add Jobs in Massachusetts

| Posted by | Categories: Grow, Work

(Caption: SanDisk Corporation in Marlbourough)

Here in Massachusetts, companies are growing to scale, expanding their facilities and adding jobs. Just last week, the Economic Assistance Coordinating Council (EACC) held its quarterly meeting and approved 10 projects for participation in the Economic Development Incentive Program (EDIP).

These new projects are expected to create 679 new jobs and retain 699 existing jobs, in addition to leveraging over $642 million in private investment and supporting construction projects across the Commonwealth. Among the 10 approved projects are four manufacturing companies and four projects located in Gateway Cities like Lawrence, Springfield, New Bedford and Brockton.

“Supporting companies that are choosing to grow in Massachusetts is one of the Administration’s key economic development objectives to create economic opportunity in every region of the Commonwealth,” said Michael Hunter, Executive Director of Massachusetts Office of Business Development. “These investments help companies expand and continue to enhance the Massachusetts economy by making our communities stronger in the long term.”

The ten companies in this round include:

Aspen Technology, Inc. in Bedford
MK Parcel 7 Development LLC in Boston
Vicente’s Liquors and Tropical Grocery, Inc. in Brockton
Kennametal, Inc. in Greenfield
Asahi America, Inc. in Lawrence
Berkshire Sterile Manufacturing, LLC in Lee
SanDisk Corporation in Marlborough
Kielb Welding Enterprises, Inc. in Springfield
Amasdave LLC, in Springfield
Om Shri Ambika LLC in Sturbridge

Here are fuller descriptions of the projects.

The EDIP program was reformed in 2009 by Governor Deval Patrick and Greg Bialecki, Secretary of Housing & Economic Development, and since then, it has become one of the most effective programs helping business grow in Massachusetts. Since 2009, 197 projects have received approval, leading to the potential creation of 13,983 new jobs, the retention of 40,451 existing jobs and leveraging of over $5.4 billion in private investment. The EACC has assisted 106 manufacturers through the EDIP and has supported 91 projects in Gateway Cities.

For more information about the EDIP and the Local Incentive Program, contact the MOBD regional representative in your area.