The Patrick administration today announced more funding to help strengthen the advanced manufacturing industry in Massachusetts.
Massachusetts will distribute $1.5 million to be shared by five regional workforce development agencies across the state to help recruit and train 280 unemployed or underemployed people for careers in precision manufacturing. A vocational high school in western Massachusetts will get $400,000 to equip its machine shop with state of the art equipment.
Massachusetts, like many states, offers tax credits to businesses in exchange for creating jobs. The jobs bill passed last summer made some changes to one of the state’s primary economic development tools.
The Economic Development Incentive Program in Massachusetts allows companies to claim state and local tax breaks in exchange for creating new jobs, retaining jobs in the manufacturing sector and committing to other private investments. It is a $30 million a year program.