Evergreen CEO: no plans to return incentive money

The chief executive of Evergreen Solar says his company has no plans to give back $20 million in state corporate incentives, despite its recent decision to close a plant in Devens, Mass., and lay off 800 workers.

Michael El-Hillow told the Senate Post Audit and Oversight Committee Tuesday that Evergreen has met 85 percent of its employment obligations to the state, and still has five years to reach the remainder. El-Hillow said the company moved manufacturing to China to save labor costs.

Officials from Fidelity Investments have also been called before the panel to explain its recent decision to move 1,100 jobs out of Massachusetts, despite enjoying tax breaks since 1996.

Committee chair Sen. Mark Montigny said the hearing is not intended to be an “inquisition” but to improve job creation policy.

(By BOB SALSBERG, Associated Press)

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