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State awards $6.7m in tax credits

around the region

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December 22, 2011|By Todd Wallack

A state economic development board yesterday awarded $6.7 million in tax credits for a half dozen companies that promised to add jobs.

The Economic Assistance Coordinating Council voted to give $3.4 million to Red Hat Inc., best known for marketing a version of the Linux computer operating system. The North Carolina software developer plans to expand its engineering headquarters in Westford in exchange for the aid, adding 181 jobs and retaining 233. The company is also receiving a $927,000 property tax break from the town.

The board also voted to give $1.7 million in tax credits, in addition to a $431,000 local property tax break, to help IPG Photonics Corp. build a 101,000-square-foot building to support manufacturing in Oxford, where the company is based. IPG, which makes optical fiber-based lasers, has promised to create 175 jobs and retain 600 more.

Four other firms received tax credits: Harbar, a tortilla and wrap maker that plans to add 30 jobs in Canton, received $553,020; Classic Envelope Inc., an envelope maker that plans to add 40 jobs in Douglas, won of $220,721; Custom Carbide, a Springfield manufacturing company, received $266,700 to add 21 jobs; and Gorton’s Inc., the frozen fish stick maker that plans to add 20 jobs in Gloucester, received $500,000.