Cisco Systems Inc.
Tax breaks: Potentially more than $33.75 million in state taxes, plus more than $10.2 million in local taxes
The company, based in San Jose, Calif., won a tax incentive for a major expansion in Boxborough in 2000. The state gave the high-tech giant a 5 percent state tax credit potentially worth $33.75 million based on the company's plans to invest as much as $675 million in an expansion in Boxborough. In addition, the town gave Cisco a 15 percent discount for any investment that increases its property taxes for 20 years. Cisco initially promised to create 2,900 jobs and retain 1,500, though it has since ratcheted down its plans. The company reported it has created 762 jobs as of last June. So far, Cisco reported claiming $17.8 million in state tax credits and saving $10.2 million in local taxes.