Three New Bedford Businesses are being awarded state tax incentives through the Massachusetts Office of Business Development’s Economic Assistance Coordinating Council as part of its Economic Development Incentive Program.

State Rep. Antonio Cabral announced the award on Friday telling WBSM News that the incentives will provide a big return for Massachusetts taxpayers.

"For every dollar that we provide as an incentive to a company the state gets a return on those dollars by increasing their tax revenue because folks are working, folks are buying things, folks are paying income taxes from their wages, so we really think it's win-win situation," said Cabral.
American Holdco LLC, a distributor of live lobsters and scallops, secured $400,000 in state tax credits which will be put towards the company's $1 million investment to expand its New Bedford Processing facility.

A seafood packaging company, Quality Custom Packaging Inc. and a restoration and carpet cleaning business, Freedom Restoration & Cleaning, are also receiving tax incentives.

The program had some changes made to it last summer and Rep. Cabral says he worked to focus the program on small businesses and job expansion, as the legislation moved through his committee.

There were 19 businesses throughout the Commonwealth that were offered tax incentives through the program.

More From WBSM-AM/AM 1420