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Needham OK’s TripAdvisor break

Needham Town Meeting members voted Monday night to grant a major tax break to TripAdvisor LLC to attract the online travel company to move its corporate headquarters from Newton to Needham.

The vote allows the town to offer TripAdvisor a tax increment financing plan, which grants the company a 76 percent exemption on its taxes for new development for five years, and a 1 percent exemption for the next eight years.

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