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The Boston Globe

Business

Mass. OK’s $13m in tax aid for firms

Nine Mass. firms to benefit from breaks; MassMutual, others vow to create jobs

A Massachusetts economic development board on Tuesday approved $13 million in state and local tax breaks for nine companies, including Massachusetts Mutual Life Insurance Co. and MathWorks Inc., that promised to create hundreds of jobs and upgrade their facilities.

The largest state tax break, worth $3.75 million, went to MassMutual, which pledged to move 250 insurance jobs from Connecticut to its Springfield headquarters and spend $59 million to renovate the buildings. The life insurance company is already one of the largest employers in Western Massachusetts with about 4,000 employees in the area.

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