The EDIP program provideds incentives for businesses and industries to locate or expand operations in Massachusetts. In designated locations (known as Economic Opportunity Areas, or EOAs) communities may enter into Tax Increment Financing (TIF) arrangements with companies that improve property and provide jobs. A TIF lowers real estate and/or personal property taxes based upon a negotiated, phased schedule of lower tax payments over a 20-year period. Such projects are also eligible to receive investment tax credits at the state level, which can be equally significant.
Warren is a member of the Ware River Valley Economic Target Area and has two approved EOA's, Warren Pumps in Waren Center, and the mill complex in West Warren. Companies that wish to grow their business in these locations may apply to the Town to receive a TIF. The EOAS are shown on the attached map here: EOAs Location Map. Town Meeting approved a TIF with Warren Pumps in 2011 as a result of the company expanding operations in Warren.