Bedford Corporations Recipients of State Incentive Programs

Massachusetts spends $2.26 million each year on incentive programs to entice corporations to bring and keep their business in the Commonwealth, with several Bedford companies the recipient of these incentives, according to a recent New York Times article. 

Among the Bedford companies who were recipients of these incentive programs were Instrumentation Laboratory, Mabbett & Associates Inc., Anika Therapeutics, Inc., iRobot and Fuji Film.

Of these five companies, the incentive each received was one corporate income tax credit, rebate or reduction, according to the Times. 

While the amount of the tax credit isn't made available for each company, Mabbett and Associates Inc. received a credit worth $14,730 in 2011, while Instrumentation Laboratory received a credit worth $860,000 in 2010, according to the Times. 

Anika Therepeutics and iRobot received their credits in 2007, and Fuji received their credit in 2003, although the amounts of these credits were not made available in the Times story. 

Seven cents on every dollar of the state budget go toward these incentive programs according to the Times, with $786 million going toward the type of corporate income tax credits Bedford companies received.