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MassMutual awarded tax credits for job growth

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BOSTON (AP) – Massachusetts is handing out $13 million in tax breaks and incentives to nine firms that have promised to grow or retain thousands of jobs in the state.

The Economic Assistance Coordinating Council on Tuesday awarded $3.75 million in investment tax credits to the MassMutual Life Insurance Co. The Springfield-based firm plans to move 250 jobs from Connecticut to Massachusetts after purchasing the retirement plan portfolio of Hartford Insurance Co.

See also: MassMutual Agrees to Pay $400 Million for Hartford Retirement Plans Unit

The council approved $3 million in investment tax credits to MathWorks, which hopes to expand its Natick headquarters and create 600 jobs.

Other companies on the list include DRS Power Technology of Fitchburg; New England Wire Products of Leominster; Jacqueline’s Wholesale Bakery of Salem; Perkin Elmer Health Sciences of Hopkinton; Crane & Co. of Dalton; Squire Charger Realty of Revere; and a Plymouth developer building a medical office complex.