Gov. Dannel P. Malloy said Tuesday the state is giving MassMutual Life Insurance Co. up to $13 million in state incentives as part of an expansion of its Enfield campus.
MassMutual recently designated Enfield as the new world headquarters for its Retirement Services division and spent $38 million upgrading the facility’s power systems and making infrastructure improvements.
MassMutual acquired The Hartford’s Retirement Services business last July and has combined those jobs and functions with the company’s own Retirement Services branch.
MassMutual is eligible for up to $13 million in tax credits over the next 10 years through the Urban and Industrial Sites Reinvestment Tax Credit (URA) program, Malloy said. The incentive allows for a dollar-for-dollar corporate tax credit for an investment up to $100 million in a project.
