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December 22, 2011

Tax Breaks For Two Central Mass. Firms

The state has awarded tax breaks to IPG Photonics Corp. in Oxford and Classic Envelope in Douglas as part of a $6.7 million package of tax incentives for 14 projects across the state.

The Economic Assistance Coordinating Council approved the projects, which are expected to create 719 new jobs and retain 2,912 jobs altogether.

IPG received a $1.7 million tax break to support the company's expansion, which includes the construction of a 101,500-square-foot manufacturing facility and the creation of 175 new jobs.

Classic Envelope received $220,721 from the state to buy and renovate space in Douglas and hire 40 new employees.

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