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EDA weighs Bosch & Lom incentive payout after capital target met but job targets fell short
Summary
Staff told the EDA Bosch & Lom exceeded its capital investment (reported $37.8M vs target $35.4M) but created about 38 new jobs versus a 79-job target in the 2020 performance agreement; staff proposed considering the capital achievement and referred the matter to the incentive committee for a recommendation on payout.
Staff told the Economic Development Authority on March 19 that Bosch & Lom had met and exceeded its capital investment target in a 2020 performance agreement but had not reached the job creation target. The EDA had encumbered $280,000 for the project.
According to staff, Bosch & Lom’s performance agreement called for 79 new jobs and $35.4 million in capital investment. Staff reported the company’s recorded…
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