BOSTON – Three Worcester County businesses received notice this week that they will receive benefits from the Economic Development Incentive Plan (EDIP). The Massachusetts’ Economic Assistance Coordinating Council (EACC), which administrates the program, announced a total of 13 projects for participation in the plan across the state.
According to EACC, the 13 projects are expected to create 343 new jobs, retain 415 jobs, receive $2.275 million in state tax credits, and contribute $481 million in private investment.
Big Y Foods in Uxbridge plans the new construction of a 55,000 square foot, state-of-the-art, full-service supermarket. The Town of Uxbridge approved a 10-year TIF for around $1.2 million as a Local-Only Tax Increment Financing (TIF) Project. The company plans an investment of $23 million.
Black Bull Meat Market Inc. in Webster has rehabilitated a former Dunkin’ into a butcher shop offering top of the line cuts of meat and cold cuts. The Town of Webster provided a grant of $10,000 for reimbursement of capital expenses. The EACC awarded $10,000 in refundable tax credits as a Vacant Storefront Project.
EyePoint Pharmaceuticals US Inc., based in Northbridge, received a 15-year TIF valued at around $1.9 million from the City of Watertown as a Local-Only Tax Increment Financing (TIF) Project. The company will invests 430 million in the project for development of a new 40,000 square foot manufacturing facility to supplement existing production.