Baker-Polito Administration Announces Economic Development Incentives for 19 Projects
Local economic development incentives will contribute to Massachusetts businesses creating 626 new jobs
Boston – December 13, 2016 – Today the Commonwealth’s Economic Assistance Coordinating Council (EACC) approved the participation of 19 projects in the Economic Development Incentive Program (EDIP). These projects are expected to create 626 net new jobs and retain 891 jobs across Massachusetts, while leveraging $283 million in private investment.
“Our administration is supporting job growth and vibrant communities by creating a business climate that supports private investment and long-term growth,” said Governor Charlie Baker. “The Economic Development Incentive Program complements our substantial investments in the state’s talented workforce, and is an important part of how we encourage companies to create jobs and expand in the Commonwealth.”
“The job-creation incentives approved today demonstrate the diversity of the Commonwealth’s economy,” said Lieutenant Governor Karyn Polito. “From technology and the life sciences, to manufacturing and food processing, we are growing regional economies, and helping businesses deliver new growth.”
“By enabling job creation and economic opportunities, the Economic Development Incentive Program helps foster prosperity across Massachusetts,” said Housing and Economic Development Secretary Jay Ash. “These job creation incentives are a smart investment in ourselves, and in our future.”
“The awards approved today will help create jobs and deliver business expansion, from Dartmouth to Holyoke,” said Assistant Secretary of Business Development Nam Pham. “The targeted investment opportunities that this program provides will help support workers, families, and communities throughout the Commonwealth.”
Eleven of the awarded projects this quarter are manufacturing companies, and 12 are located in Gateway Cities.
The EACC has approved 121 economic development projects since January 2015. These projects will lead to the creation of 6,456 jobs, the retention of 13,188 existing jobs, and will leverage roughly $2.4 billion in private investment. Additionally, the EACC has assisted 54 manufacturing companies and 60 companies in Gateway Cities during this period.
The EDIP is the Commonwealth’s investment tax credit program for businesses, and is one of the most effective tools helping businesses to grow in Massachusetts. EDIP tax credits and other incentives are available to companies that make qualifying investments in new facilities and create new jobs. The EACC meets on a quarterly basis to review applications. More information about the EDIP is available on the Massachusetts Office of Business Development’s website.
Manufacturing Retention Projects
Sealed Air Corporation (Holyoke) - Sealed Air is a multinational corporation with more than 25,000 employees, serving 175 countries. The firm is the inventor and manufacturer of Bubble Wrap packaging. Sealed Air is investing $1.2 million to expand its Holyoke manufacturing plant, creating 24 new jobs, and retaining 75 existing jobs. The EACC Board approved $132,000 in investment tax credits.
American Holdco, LLC (New Bedford) - American Holdco, LLC is among the world’s largest distributors of lobster and scallops. The firm is investing $1 million to expand the capacity of its New Bedford processing facility, creating 42 new jobs, and retaining 40 existing jobs. The EACC Board approved $400,000 in investment tax credits.
Pieco Holding dba Table Talk Pie, Inc. (Worcester) - Table Talk is a leading producer of pies, providing customers with a wide range of sizes and formats. The company currently produce pies in facilities in Worcester and Shrewsbury, and is expanding to a third production facility in Worcester. The expansion will create 50 new jobs, retain 30 existing jobs, and generate $7.4 million in private investment. The City of Worcester has approved a local tax-increment financing agreement (TIF) and personal property tax exemption valued at $6.56 million. The EACC Board approved $750,000 in investment tax credits.
AHEAD, LLC (Dartmouth) - AHEAD designs and manufactures headwear, apparel, and accessories for golf and other industries. AHEAD will invest $11 million to expand its Dartmouth site by 78,000 square feet, creating additional space for warehousing, light manufacturing, and offices. This expansion will create 25 new jobs and retain 261 existing jobs. The Town of Dartmouth has approved a TIF valued at $124,000. The EACC Board approved $312,500 in investment tax credits.
Ice Cube LLC / Hutchens Holding II, LLC (Fall River) - Ice Cube LLC is a subsidiary of Raw Seafoods, a seafood processing company that handles fresh and frozen scallops, fish, and value-added seafood. Raw Seafoods is constructing a new cold storage facility on a vacant parcel adjacent to its existing plant. The expansion project will create 12 new jobs, retain 206 existing jobs, and generate $15 million in private investment. The City of Fall River has approved a TIF valued at $800,000. The EACC Board approved $150,000 in tax credits.
Decker Machine Works, Inc. (Greenfield) - Decker Machine Works was established in 1982, and has more than 30 years’ experience fabricating multi-axis machined parts, across a wide spectrum of materials. Decker is purchasing and renovating a new facility in Greenfield, adding a clean room, making new equipment purchases, and facilitating the company’s long-term growth. The project will create 10 new jobs, retain 18 existing jobs, and generate $2.3 million in private investment. The Town of Greenfield has approved a TIF valued at $43,000. The EACC Board approved $125,000 in investment tax credits.
International Container Co. LLC (Greenfield) - International Container Co. LLC specializes in the manufacture of roll-off, hook-lift, and front- and rear-load containers, and a wide variety of special application containers for the solid waste industry. The company is constructing a new 125,000 square foot production facility in Greenfield, and purchasing new equipment. The company’s expansion will create 32 new jobs, retain 48 existing jobs, and generate $9.2 million in private investment. The Town of Greenfield has approved a TIF valued at $1.8 million. The EACC Board approved $400,000 in investment tax credits.
Patriot Beverage, LLC (Littleton) - Patriot Beverage, LLC is a wholly-owned subsidiary of CPF, Inc.CPF currently bottles Pepsi products at a plant in Ayer. Patriot Beverage is purchasing a vacant former bottling plant in Littleton, in order to expand its business into new product lines and container sizes. This expansion will create 50 new jobs and generate a private investment of $23 million. The Town of Littleton has approved a TIF valued at $113,786. The EACC Board approved $625,000 in investment tax credits.
Bianco & Sons Inc. (Medford) - Bianco & Sons is a 56-year-old family-owned meat and sausage manufacturer, serving regional supermarket chains, large wholesale food and provision suppliers, and licensed street vendors. The company is expanding from its current 6,000 square foot plant, to a newly purchased 29,000 square foot facility in Medford. The expansion project will create 20 new jobs, retain 27 existing jobs, and generate more than $8.5 million in private investment. The City of Medford has approved a TIF valued at $67,000. The EACC Board approved $250,000 in investment tax credits.
Freedom Restoration & Cleaning LLC (New Bedford) - Freedom Restoration & Cleaning provides carpet and upholstery cleaning, as well as emergency water, fire, smoke, and mold clean-up and restoration services. The company is relocating from Rhode Island, purchasing a New Bedford property to serve as its new headquarters, creating 12 new jobs, and making a private investment of $615,000. The City of New Bedford has approved a TIF valued at $32,000. The EACC Board approved $36,274 in investment tax credits.
Granite Telecommunications, LLC (Quincy) - Granite Telecommunications provides telecommunications services, including local and long distance dial tone, broadband, long distance, wiring, alarm and other related services to multi-location businesses and government entities. Granite is continuing an EDIP expansion project begun in 2013, by acquiring and renovating a property at 61 Enterprise Drive in Quincy. Both phases of Granite’s EDIP expansion project will lead to the creation of a total of 846 jobs, the retention of 935 jobs, and a total private investment of over $45 million. The City of Quincy has approved a TIF valued at $1.9 million. The EACC Board approved $3.6 million in tax credits.
Prodrive Technologies, Inc. (Weymouth) - Prodrive Technologies manufactures and supplies robotics, power electronics and sensors, and is one of the fastest-growing technology companies in Europe. Prodrive is expanding into the United States by constructing a new production facility in Weymouth. In the first phase of an anticipated multi-phase project, Prodrive will make a private investment of $38 million, and create 110 new jobs. Prodrive will be the first major commercial tenant at Union Point development, the redevelopment of the former South Weymouth Naval Air Station. The City of Weymouth has approved a 20-year TIF valued at $4.7 million. The EACC Board approved $1.375 million in investment tax credits.
Local Incentive-Only Projects
Maple Hotel Company (Chelsea) - The Maple Hotel Company will invest $9.8 million to redevelop the current Wyndham Chelsea Hotel, including complete interior and exterior renovation, and a change in brand affiliation to DoubleTree by Hilton. This project will retain 51 jobs. The City of Chelsea has approved a TIF valued at $480,000.
775 Davol St, LLC (Fall River) - 775 Davol St plans to demolish an abandoned, blighted building and construct a new 19,450 square foot medical office building. The project will create 16 new jobs, retain 25 existing jobs, and generate $3.3 million in private investment. The City of Fall River has approved a TIF valued at $235,000.
CEA Nashua, LLC (Fall River) - CEA Nashua will invest $5 million to completely redevelop and renovate a retail mall in Fall River. The City of Fall River has approved a TIF valued at $620,000.
AACO Realty Corp. (Holyoke) - AACO Realty Corp. will restore an abandoned manufacturing building into a mixed-use commercial and residential complex. The City of Holyoke has approved a TIF valued at $218,000, to support AACO Realty’s $650,000 investment in creating two floors of commercial space.
Quality Custom Packaging, Inc. (New Bedford) - Quality Custom Packaging supplies private branded, frozen block, and fresh scallops. The company is investing $900,000 to expand its plant, creating 21 new jobs, and retaining 5 existing jobs. The City of New Bedford has approved a special tax assessment valued at $37,000.
Moderna Therapeutics, Inc. (Norwood) - Moderna Therapeutics is a global life sciences company headquartered in Cambridge, and focused on the development of transformative medicines and biotechnology therapies. Moderna is investing $110 million in the leasing and renovation of a 200,000 square foot facility in Norwood, for use as a clinical research development and manufacturing facility. The expansion project will create 120 new jobs and retain 100 existing jobs. The Town of Norwood has approved a TIF valued at $1.7 million.
Chacharone Properties, LLC (Worcester) - Chacharone Properties owns and develops commercial properties in and around Worcester. The developer plans to invest $600,000 to construct a building at 65 Armory Street, to fill regional needs for high-quality manufacturing space. The City of Worcester has approved a TIF valued at $90,000.