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GE Seeking Tax Credits To Retain Jobs In Mass.

General Electric Co. is seeking $25 million in tax credits from Massachusetts in exchange for a pledge not to further cut its workforce at the jet engine plant in Lynn.

A GE spokesman tells the Boston Globe the tax break would help upgrade the company's Lynn plant and stabilize employment.

State officials consider the request to be highly unusual, since tax credits are generally given to companies that create new jobs, not just save existing ones.

GE has already cut 600 jobs at the Lynn plant and is weighing plans to shave 150 more positions. The Globe reports that the company has told the state that if it receives the tax credits, it would make a promise to keep all of the remaining 3,000 or so jobs at the facility for the next six years.

The state is considering GE's request but is not expected to make a decision until next year.

This program aired on November 18, 2010. The audio for this program is not available.

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