June 27, 2012 — GateHouse News Service — The Economic Assistance Coordinating Council (EACC) yesterday approved the tax deal between Marlborough and TJX.
Mayor Arthur Vigeant traveled to Boston yesterday morning to testify before the EACC in favor of the tax increment finance (TIF) agreement between the city and TJX. The EACC acts as the economic development board in the state in charge of approving local TIF agreements and various other state tax incentives available to companies, according to the mayor’s office.
Mayor Vigeant, representing the city, informed the committee that both he and the City Council are in unanimous support of this agreement and that TJX will bring an abundance of jobs and commercial activity to the vacant site that was previously home to Fidelity.
“TJX’s arrival in the city of Marlborough is a significant achievement that will further stabilize our city’s commercial tax base and stimulate our local economy,” Vigeant said. “Marlborough has been and continues to be a great community to do business in and I look forward to our city’s partnership with TJX for years to come.”
The TJX Companies, Inc. is expected to bring nearly 1,600 permanent, full-time jobs to the site located at 300-400 Puritan Way. Additionally, it will occupy more than 700,000 square feet of office space that will receive well over $100 million in renovations and property enhancement investments, according to the mayor’s office.
State Rep. Steven Levy, R-Marlborough, also spoke in favor of the deal.
“I congratulate TJX, Mayor Vigeant and the Marlborough Economic Development Corporation on their successful efforts,” Levy said. “TJX will be a great addition to the Marlborough community.”
The state also approved the tax deal between Framingham and TJX.
This story originally appeared here.