TJX, General Dynamics receive state tax breaks
A state economic development board on Tuesday awarded more than $31 million in state and local tax breaks to companies for 17 projects.
The Economic Assistance Coordinating Council approved $10 million in state tax credits for 10 firms, including $3.3 million to defense contractor General Dynamics Corp., $3 million to retailing giant TJX Cos., and $1.7 million to Saint-Gobain SA, a French building materials company.
The council also approved $21 million in local property tax breaks negotiated with cities and towns, including nearly $18 million for TJX. TJX, which operates the T.J. Maxx and Marshalls chains, pledged to create 300 jobs and invest $264 million to expand in Framingham, where the company is based, and Marlborough, where it has agreed to buy buildings vacated by Fidelity Investments.
General Dynamics plans to create 100 full-time jobs and retain more than 1,100 as part of an $18 million upgrade of its Pittsfield manufacturing plant.
Saint-Gobain, which has about 2,000 employees in Massachusetts, plans to use nearly half of bankrupt Evergreen Solar’s old plant in Devens to make a component of light-emitting diodes, or LEDs. The firm plans to create 90 full-time jobs and invest $31 million in the facility.Todd Wallack can be reached at firstname.lastname@example.org.