Massachusetts officials last week released a revamped $250 million borrowing program called I-Cubed that they anticipate will help entice out-of-state businesses to relocate to the commonwealth.

I-Cubed, as the Infrastructure Investment Incentive Program is known, aims to provide low-cost financing for capital projects that will generate new revenue growth for state coffers. Lawmakers approved I-Cubed legislation in 2006, but details of the program needed further evaluation and tweaking before officials could begin implementing the plan.

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