The company that laid off 78 workers at the former IBM plant in Essex Junction had just received a $5.3 million job incentive package from the State of Vermont.
"But less than a week before announcing those layoffs, Marvell quietly secured approval for $5.3 million in job creation incentives from a Vermont state program. And, while the program is shrouded in secrecy, Marvell may be able to receive the money even after the layoffs.
Marvell bought Avera Semiconductor, a subsidiary of GlobalFoundries, for $600 million earlier this month and promptly announced it was laying off 78 of its roughly 300 Vermont workers. The company cited redundancies between Avera and its existing business. But records show that just six days before, Marvell secured the potential for future funding from a government program designed to provide more jobs in Vermont.
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