GE Wants Millions in Mass. Tax Credits

(NECN) - General Electric says it wants millions in Massachusetts tax credits to prevent layoffs at its Lynn plant. That's according to the Boston Globe.

GE is asking for $25 million worth of credits to prevent an additional 150 layoffs at the airplane engine plant.

The company has already laid off 600 workers in Lynn. But GE says tax credits could fund a $75 million re-tooling of the plant and protect 3,000 jobs.

Massachusetts officials are negotiating with GE.

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