According to a recent news article from Mass Live, a large energy firm in Holyoke has received $700,000 in tax incentives to move forward with a planned major expansion. Much of these funds will be used for asbestos abatement.
Town officials, members of a public development corporation, and company representatives met in Worcester to finalize the deal. The company will not have to pay any property taxes for the next 10 years and that amounts to a savings or around $700,000. There are also state tax credits included in this figure above and beyond the property tax normally payable to the county. Continue reading