Mass. plans $20M in grants for job growth
Tuesday, April 15, 2008 2:38 PM
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Massachusetts officials plan to dole out $20 million in grants to local cities and towns as part of an effort to create more jobs in the Commonwealth.
The announcement was made Tuesday by the office of Mass. Secretary of Housing and Economic Development Daniel O'Connell. The office is seeking applications for the Massachusetts Opportunity Relocation and Expansion (MORE) Jobs Capital Program, which helps cities and towns pay for infrastructure needed to spur economic development.
Municipalities can apply for grants to be used to help cities and towns make necessary improvements to publicly owned infrastructures to attract businesses that will create hundreds of permanent and construction jobs. Priority will be given to projects that will create new jobs this year, officials said.
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In order to receive a grant, a city or town and a for-profit entity must jointly submit an application to the Secretary of Housing and Economic Development.
To be eligible for a grant, the for-profit entity associated with a project must:
-Create at least 100 new permanent full-time jobs in Massachusetts within 24 months; and
-Maintain the newly created jobs for at least 5-years; and
-Generate substantial sales from outside the Commonwealth. Or
-Result in an economic benefit the Secretary determines is sufficiently exceptional.
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