Baker-Polito Administration Announces Approval of 13 Economic Development Projects Supporting Job Growth and Business Expansion Across Massachusetts
Projects Will Create or Retain 2,600 Jobs in Massachusetts
BOSTON – Wednesday, March 25, 2015 – The Commonwealth’s Economic Assistance Coordinating Council (EACC) yesterday approved 13 projects for participation in the Economic Development Incentive Program (EDIP). These projects are expected to create 998 new jobs and retain 1,602 jobs throughout Massachusetts, while leveraging approximately $178 million in private investment.
“These economic development projects will help build the framework for a new wave of growth and revitalization in our local communities,” said Jay Ash, Secretary of the Executive Office of Housing and Economic Development. “Through these types of targeted investments, we are creating new jobs for our residents, strengthening our economy and showcasing Massachusetts as a great place to start and grow and a business.”
“One of the ways to build and sustain a job creating economy is by supporting businesses that are looking to expand here in Massachusetts,” said Nam Pham, Assistant Secretary for Business Development. “Through these incentive packages, we are investing in job opportunities for our residents and enhancing long-term economic growth for our future.”
Among the approved projects are eight manufacturing companies and nine projects located in Gateway Cities, including a new $54 million Amazon facility in Fall River announced by Governor Baker Tuesday. The EACC meets on a quarterly basis to review applications.
In partnership with local towns and cities, the EDIP is the Commonwealth’s investment tax credit program for businesses and is one of the most effective tools in helping businesses grow in Massachusetts. EDIP tax credits and other incentives are available to companies that make qualifying investments in new facilities and create new jobs. To learn more about the program, click here.
Since 2010, 235 projects have received approval from the EACC, leading to commitments to create 17,110 new jobs, and retain 47,004 existing jobs. EDIP incentives have leveraged over $6 billion in private investment since 2010. The EACC has assisted 126 manufacturers through the EDIP and has supported 108 projects in Gateway Cities.
Projects approved yesterday include:
Manufacturing Retention & Job Growth Projects (MRP):
Blount Fine Foods Corp. (Fall River) – Headquartered in Fall River, Blount Fine Foods produces and distributes premium quality soups, sides, entrees and sauces for the retail and food service industries. The company is the sole manufacturer of soups for Panera, Legal Sea Foods and other private label brands. To allow for additional capacity for packaging and logistical operations, Blount Fine Foods is proposing to invest nearly $11 million to construct a 50,000 square foot expansion to their existing headquarters in Fall River, with a possible second phase expansion of 40,000 square feet. The Manufacturing Retention and Job Growth Project will create 75 net-new full-time jobs in the Commonwealth and retain 304 full-time jobs in the Gateway City of Fall River. The City of Fall River is supporting the project with a 12-year Tax Increment Financing Agreement valued at $2,026,080. The EACC approved $1,125,000 in EDIP Investment Tax Credits.
HTP, Inc. (New Bedford) –HTP, Inc., is a second generation, family-owned designer and manufacturer of green, renewable, and high efficiency space and water heating products. The company also manufactures a variety of solar thermal panels and related products, which provide renewable heat and hot water for both residential and commercial applications. HTP is proposing to invest $3.65 million to acquire and refurbish a 77,000 square foot abandoned building in the New Bedford Business Park. The new facility will become HTP’s headquarters and will house administrative departments, assembly manufacturing, distribution and a new state-of-the-art product training center. The Manufacturing Retention & Job Growth Project will create 44 net-new full-time jobs and retain 55 full-time jobs in the Commonwealth. The City of New Bedford is supporting the project with a 5-year Special Tax Assessment valued at $192,639. The EACC approved $399,048 in EDIP Investment Tax Credits. HTP, Inc. is also eligible to take advantage of the Commonwealth’s 10% Abandoned Building Deduction.
Jen-Coat, Inc. (Westfield) – Jen-Coat is a subsidiary of Prolamina, Inc., an award-winning, top 10-manufacturer of flexible packaging solutions for retail food, healthcare and other specialty markets. Prolamina operates three strategically located facilities in Westfield, Wisconsin and Canada. Jen-Coat plans to invest over $6.9 million to renovate their existing 230,000 square foot facility, renovate over 31,000 square feet of the main facility, and purchase new equipment. The improvements will make the Westfield site a showpiece facility for Prolamina and beautify the entry to downtown Westfield. The Manufacturing Retention & Job Growth Project will create 12 net-new full-time jobs in the Commonwealth and retain 256 full-time employees in the Gateway City of Westfield. The City of Westfield is supporting the project with a 5-year special tax assessment valued at $608,189. The EACC approved $240,000 in EDIP Investment Tax Credits.
Tell Tool, Inc. (Westfield) – Founded in Westfield in 1967, Tell Tool Inc. is a manufacturer of precision complex components for the commercial and defense aerospace industries. The company utilizes advanced engineering modeling programs coupled with state-of-the-art CNC machinery to deliver its products to major players in the global aerospace market. Tell Tool recently entered into a 15-year client contract that will result in a 40 percent annual increase in revenue. The company is capacity constrained at its two existing Westfield facilities and is proposing to invest $5 million to construct a 10,000 square foot expansion and purchase substantial manufacturing equipment. The Manufacturing Retention & Job Growth Project will create 17 net-new full-time jobs in the Commonwealth and retain 110 full-time employees in the Gateway City of Westfield. The City of Westfield is supporting the project with a 5-year Tax Increment Financing Agreement valued at $33,823. The EACC approved $255,000 in EDIP Investment Tax Credits.
Enhanced Expansion Project / Job Creation Project
Amazon.com, LLC (Fall River & Freetown) – Incorporated in 1994, Amazon.com is a Fortune 500 company, online retailer of consumer goods. Amazon is proposing to expand its fulfillment network by investing approximately $54 million in a 1 million square foot sortable fulfillment center to be constructed by a third-party developer in the SouthCoast Life Science & Technology Park located in Fall River and Freetown. The center is expected to be operational in late 2016 and will create 500 net-new full-time jobs in the Commonwealth. The City of Fall River is supporting the project with a 15-year Tax Increment Financing and Personal Property Tax Exemption Agreement valued at $7,808,850. The Town of Freetown is supporting the project with a 15-year Tax Increment Financing and Personal Property Tax Exemption Agreement valued at $3,830,425. The EACC approved $2,250,000 in Enhanced Expansion Project Credits as well as $1,000,000 in Job Creation Project Credits for a total of $3,250,000 in EDIP Investment Tax Credits.
Argotec, LLC (Greenfield) – Founded in Greenfield in 1988, Argotec is a global leader in the production of thermoplastic polyurethane films for a diverse range of applications in the automotive, paint and other surface protection, graphics and medical film markets. Argotec plans to invest $20 million to expand and enhance capacity by installing two new production lines, increasing warehousing space, and undertaking technology upgrades. The Expansion Project will create 31 net-new full-time jobs in the Commonwealth and retain 237 full-time jobs in Greenfield. The Town of Greenfield is supporting the project with a 10-year Tax Increment Financing Agreement and Personal Property Tax Exemption valued at $3,734,875. The EACC approved $232,500 in EDIP Investment Tax Credits.
UFP Technologies (Newburyport) – Founded in 1963, UFP Technologies, Inc. serves as an extension of its customers’ engineering and manufacturing departments, helping to design and produce custom component and packaging solutions for the medical, automotive, and aerospace and consumer markets. To increase manufacturing efficiency and enable future growth, UFP is proposing a multi-phase project that will consolidate its three existing Massachusetts locations into a single expanded commercial site. An investment of nearly $17.5 million is expected to purchase and renovate a 137,000 square foot Newburyport facility, and construct a 101,700 square foot building addition. The Expansion Project will create 50 net-new full-time jobs and retain 175 full-time jobs in the Commonwealth. The City of Newburyport is supporting the project with a 10-year Tax Increment Financing Agreement valued at $599,811. The EACC approved $500,000 in EDIP Investment Tax Credits.
WGM Fabricators, LLC (Northbridge) – Founded in 1946 as Woonsocket Glass & Mirror Co., WGM Fabricators has grown into one of New England’s largest manufacturers and suppliers of beveled, shaped, sandblasted and tempered glass and mirror. In 2013, a private investor and employees of WGM Fabricators purchased the company. Under new ownership, WGM Fabricators experienced substantial growth and has recognized a need for additional manufacturing space. An investment of $8.1 million will enable the company to purchase and renovate a 25,000 square foot Northbridge facility and expand the facility by 8,800 square feet. The Expansion Project will create 50 net-new full-time jobs in the Commonwealth. The Town of Northbridge is supporting the project with a 5-year Tax Increment Financing Agreement valued at $21,408. The EACC approved $375,000 in EDIP Investment Tax Credits.
Distron Corporation (Plainville) – Founded in Newton, Massachusetts in 1970, Distron Corporation is a contract electronics manufacturing company that specializes in printed circuit boards and box build assemblies. While remaining true to their roots in circuit board assembly, Distron has evolved into a reliable provider of electro-mechanical solutions for the clean technology, industrial, lighting, medical product, military and robotics industries. After conducting a multi-state site search, Distron has identified a site in Plainville and proposes to invest over $6.4 million to construct a 60,000 square foot manufacturing facility. The Expansion Project will create 52 net-new full-time jobs and retain 93 full-time jobs in the Commonwealth. The Town of Plainville is supporting the project with an 11-year Tax Increment Financing Agreement valued at $274,474. The EACC approved $365,400 in EDIP Investment Tax Credits.
Job Creation Project (JCP):
Amadeus North America, Inc. (Waltham) – Founded in 1987 with the mission to connect travel providers with consumers in real time, Amadeus is a market leader in information technology solutions and distribution for the travel and tourism industry. The company has a broad customer base in the United States including Southwest Airlines, Cape Air, Expedia and Kayak, but has identified the North American market as having large growth potential. As part of this Job Creation Project, Amadeus will build on its success in Waltham by hiring 130 new-full time jobs to support their growing hospitality sector services. The project exemplifies the company’s continued commitment to invest in building a best-in-class Massachusetts Research & Development center to support its North American operations. The EACC approved $130,000 in EDIP Investment Tax Credits.
Local Incentive Only Projects:
Marcotte Ford Sales, Inc. / 1025 Main Street, LLC. / 933 Main Street, LLC. (Holyoke) – Marcotte Ford is a full-service sales, rental and parts Ford dealership that has been doing business in Holyoke since 1961. In a two-phase project, the company will invest a total of $5 million to construct a 16,000 square foot commercial truck repair facility at 933 Main Street in Holyoke, which is adjacent to their existing location at 1025 Main Street. Upon completion of the trucking center, Marcotte Ford will renovate their existing 27,000 square foot showroom, rental department and repair and parts shop to meet Ford’s new benchmark design. Showroom upgrades include new access ramps, retaining walls, new lighting, paving and display areas. The Local Incentive Only Project will create 12 net-new full time jobs and retain 114 full-time jobs in Holyoke. The City of Holyoke is supporting the project with two 5-year Tax Increment Financing Agreements with a total value of $204,751 (the agreement for 1025 Main Street is valued at $72,384 and the agreement for 933 Main Street is valued at $132,367).
One Marston LLC/ ALX Enterprises LLC (Lawrence) - One Marston Street, LLC and ALX, LLC are newly established entities that were created to develop the property at One Marston Street in Lawrence. The existing structure has fallen into disrepair and the site’s location near Lawrence General Hospital makes it an attractive location for a medical building. Leveraging their respective backgrounds in medicine and real estate development, a father-and-son team will invest $26.1 million to construct a 75,000 square foot medical facility at the site. The Local Incentive Only Project is expected to create four net-new full-time jobs in Lawrence. The City of Lawrence is supporting the project with a 10-year Tax Increment Financing and Personal Property Tax Exemption valued at $2,540,818.
Due North Hospitality, LLC (Pittsfield) – Due North Hospitality is an affiliate entity of Main Street Group, which operates several Berkshire hotels including the Red Lion Inn in Stockbridge, The Porches Inn in North Adams and The Williams Inn in Williamstown. Due North Hospitality is proposing a new hotel, Hotel on North, which will be located at the center of Pittsfield’s downtown revitalization efforts, within walking distance to restaurants, galleries and the performing arts. Due North Hospitality will invest over $14.5 million to construct an elegant 45-room property, featuring an eclectic mix of furnishings to reflect the site’s heritage as an iconic late 19th century department store. The hotel will also feature a fine-dining restaurant and lobby bar, a banquet space to accommodate larger events and smaller meeting facilities for intimate group meetings. The Local Incentive Only Project will create 21 net-new full-time jobs and retain 4 full-time jobs. The Town of Pittsfield is supporting the project with a 7-year Tax Increment Financing and Personal Property Tax Exemption valued at $372,157.