GOVERNOR PATRICK ANNOUNCES ONE HUNDRED NEW JOBS FOR SUTTON FACILITY EXPANSION
MassDevelopment issues $10 Million in Bonds to Help Grow Atlas Box & Crating Company's Worldwide Headquarters
"Right now we're all about jobs," said Governor Patrick. "Manufacturing is important in our economy, and this partnership with Atlas means more jobs ahead in Massachusetts."
The $10 million in tax exempt bonds issued by MassDevelopment and approved by Governor Patrick will allow the company to construct a 226,923 square-foot manufacturing facility in Sutton. The funding will help Atlas create 100 new jobs and preserve 227 jobs that will be transferred to the project site - two contiguous land parcels totaling more than 33 acres. Commonwealth National Bank of Worcester purchased the bonds.
In business since 1988, Atlas Box & Crating Company designs and manufactures packaging products, systems, and solutions for both basic industrial and high-technology product manufacturers and distributors. The packaging consists of engineered wood, foam, corrugated and plastic containers, and protective barriers for product storage and shipping needs. In addition to its main operating facility in Sutton, the company also has operations in leased facilities in China and Ireland, and leases distribution facilities in New Jersey and North Carolina.
"We are pleased to partner with the Patrick Administration and Commonwealth National Bank to help Atlas Box grow in Massachusetts," said Robert L. Culver, MassDevelopment President and CEO. "We have previously issued bonds to support Atlas Box's capital projects and look forward to continuing to helping meet the growing demand for its topnotch products in the future."
MassDevelopment, the state's finance and development authority, works with businesses, financial institutions, and local officials to stimulate economic growth across the Commonwealth. During FY 2008, MassDevelopment financed or managed 265 projects statewide representing an investment of more than $3 billion in the Massachusetts economy. These projects are supporting the creation of 4,001 housing units and more than 10,384 jobs: 5,424 permanent and 4,960 construction-related.