It was announced that Liberty Mutual will expand its operations in the Back Bay section of Boston with a $300 million office tower and will add 600 additional employees.
To help Liberty Mutual expand the city is providing a $16 million property tax break. In exchange the new building will net the city $50 million in property taxes overt the next 20 years.
The building expansion will contains 585,000 SF.
Three cheers to the Boston Redevelopment Authority and the City of Boston, MA!
It proves that sound economic development action can produce great results. The estimated annual additional payroll will be $31 Million annually.
Bill McInerney
Economic Development Consultant
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