FALL RIVER — Merrow Manufacturing, a sewing machine company with a long history, is looking to its future.

The company won $750,000 in state tax credits to buy the building it is in and expand.

A press release from the state office of Housing and Economic Development stated Merrow hired 75 employees from a former co-tenant in the mill building at 502 Bedford St., and that it plans to expand, creating up to 200 new jobs.

The Economic Development Incentive Program grant allows Merrow to keep the tax credits and reduce their own tax liability by that amount. The company can also sell the tax credits to other corporations and use the proceeds to find its expansion.

The city also awarded Merrow a $25,000 workforce training grant to train the 75 employees hired from its former neighbor.

Merrow intends to invest $3 million in the expansion, according to the state.

The Economic Assistance Coordinating Council approved the EDIP grant at its meeting on Wednesday in Worcester.

Also approved at that meeting was a $204,910 Tax Incentive Financing grant passed by the Taunton City Council to the South Coast Development LLC.

That company plans to spend $2.9 million renovating and expanding a gas station and convenience store in the city.

The TIF approved by the city would delay the imposition of property taxes on the increased value of the property that resulted from the improvements.

Email Kevin P. O’Connor at koconnor@heraldnews.com.