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State OK’s tax breaks to 16 firms

By Todd Wallack
June 30, 2011

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A state economic development board yesterday approved state and local tax breaks for 16 firms that promised to add or retain jobs in Massachusetts.

The Economic Assistance Coordinating Council, which oversees the state’s flagship economic development program, approved more than $4 million in state tax breaks for nine companies, including $1.8 million for E Ink Corp., $1.3 million for Affordable Interior Systems, and $316,834 for Bank of New York Mellon Corp.

E Ink, which makes the displays for the Amazon Kindle and other e-readers, plans to create 100 jobs and retain 254 more as part of plans to move its headquarters from Cambridge to Billerica. Affordable Interior, a Hudson company that makes office furniture, plans to consolidate operations in Leominster and add more than 100 jobs. BNY Mellon, the world’s largest custodial bank, is adding about 400 jobs in Westborough, including at least 250 moving from Pawtucket, R.I.

The council also gave final approval to nearly $40 million in local property tax breaks that had already been approved by cities and towns, including $12.4 million for Vertex Pharmaceuticals Inc.’s new facility in South Boston and $9.8 million for St. Vincent Hospital’s new cancer center in Worcester.

In total, the companies promised to create more than 1,300 jobs and retain more than 3,300.