(Photo: J&E Precision Tool Inc.)
On September 20, 2017, the Commonwealth’s Economic Assistance Coordinating Council (EACC) approved 14 projects for participation in the Economic Development Incentive Program (EDIP). These projects are expected to create 722 net new jobs and retain 1,050 jobs throughout Massachusetts, while leveraging approximately $124 million in private investment. Of the applicants this quarter, 11 are manufacturing companies and six are located in Gateway Cities.
Governor Charlie Baker said, “Massachusetts offers companies committed to expanding and creating jobs in the Commonwealth an unparalleled workforce and robust educational resources. Our administration works closely with municipalities and companies to spur regional economic growth through programs like EDIP, the Site-Readiness Fund, MassWorks and other targeted investments that leverage Massachusetts’ many assets to attract new opportunities for long-term growth.”
Lt. Governor Karyn Polito said today’s announcement brings “new, private investment to thirteen communities, from Cape Cod to Pittsfield. We will continue to partner with communities across the Commonwealth to pursue strategies for long-term economic growth to connect more residents to new job opportunities.”
Housing and Economic Development Secretary Jay Ash said, “Programs like EDIP, MassWorks, the Site-Readiness Fund and more aid municipalities in removing roadblocks to development, attracting private investment and pursuing a vision for long-term, sustainable economic growth.”
Assistant Secretary of Business Development Nam Pham said, “I congratulate the fourteen companies represented by today’s announcement. Not only will these companies create new jobs in manufacturing, the blue economy, real-estate development and food services, but will invest in regional economies and commercial infrastructure.”
The EACC has approved 164 economic development projects since the beginning of the Baker-Polito Administration in January 2015. These projects will lead to the creation of 9,003 jobs, retention of 21,121 existing jobs, and will leverage almost $3.3 billion in private investment. Additionally, the EACC has assisted 75 manufacturing companies and 78 companies in Gateway Cities during this period.
See a list of the companies here.