Massachusetts Economic Assistance Coordinating Council Approves New Projects

BOSTON — The Massachusetts Economic Assistance Coordinating Council (EACC) approved two projects for participation in the Economic Development Incentive Program (EDIP), which seeks to create new jobs and help businesses grow by offering credits to lower taxes in exchange for job creation.

The awardees, CMZ USA LLC in Brockton and Nye Lubricants Co. Inc. in Taunton, are both manufacturers expanding in Gateway Cities. They will receive a total of $1,890,000 in state tax credits for their projects that are expected to create 125 net new jobs, retain 40 jobs statewide, and leverage approximately $14.5 million in private investment. Both of this round’s applicants are manufacturers with projects in gateway cities.

Additionally, the EACC has approved two new vacant-storefront projects in Western Mass. that will receive EDIP refundable tax credits of $10,000 each. The awardees are LaBonte and Banas LLC d/b/a Toasted in Northampton and Comfort Bagel in Westfield.

“This round of awards through the Economic Assistance Coordinating Council will support small businesses that bring economic energy to our communities and manufacturers seeking to expand their footprint in Massachusetts,” Economic Development Secretary Yvonne Hao said. “We are proud to offer this vital economic-development tool that helps make our state the best place for businesses to launch, grow, and succeed.”

Toasted is a breakfast and lunch restaurant featuring a full café bar with barista drinks. The EACC awarded Toasted $10,000 in EDIP state tax credits, and the business also received a $10,000 municipal grant from the city of Northampton.

Comfort Bagel has a shop in Holyoke and is opening a second, larger location in Westfield with its own dedicated kitchen. The EACC awarded Comfort Bagel $10,000 in EDIP state tax credits, and the city of Westfield provided the business with $14,265 in funds through a Community Development Block Grant (CDBG), a federal program that supports community-development activities to build stronger and more resilient communities.

In addition, the city of Springfield has approved the Mason Square area as a vacant storefront district, including Wilbraham Avenue from King Street to McKnight Street and State Street from Berlin Street to Terrence Street. The district has 17 available vacant storefronts, and the city committed $500,000 in CDBG funds to small-business assistance programs for FY 2025, with a match of up to $50,000 per business.