For Immediate Release - December 19, 2012

PATRICK-MURRAY ADMINISTRATION APPROVES ECONOMIC DEVELOPMENT PROJECTS THAT WILL CREATE AND RETAIN 5,440 JOBS IN COMMUNITIES ACROSS THE COMMONWEALTH

BOSTON – Wednesday, December 19, 2012 – The Economic Assistance Coordinating Council today approved 17 projects for participation in the Economic Development Incentive Program. The projects are expected to create 1,341 new jobs and retain 4,099 existing jobs, in addition to leveraging over $417 million in private investment and supporting construction projects across the Commonwealth.

Among the 17 approved projects there are seven manufacturing companies and six projects located in Gateway Cities. The EDIP program helps reduce the cost of business for these companies, which is one of the five main focuses of the Patrick-Murray Administration’s long-term economic development plan.

“The Patrick-Murray Administration has made growing our economy, spurring economic development and creating good paying jobs through supporting our small businesses a top priority from day one,” said Housing and Economic Development Secretary Greg Bialecki. “These EDIP investments will help these small businesses expand here in the Commonwealth and is part of our overall economic development strategy that will help make our businesses and communities stronger in the long-term.”

For calendar year 2012, the Economic Assistance Coordinating Council has approved a total of 51 projects for participation in the Economic Development Incentive Program. The projects will create 2,914 new jobs and retain 12,067 existing jobs, in addition to leveraging more than $1 billion in private investment. Among the 51 approved projects there are 22 companies in manufacturing industries and 18 projects located in Gateway Cities.

The EDIP is the Commonwealth’s investment tax credit program for businesses. In 2009, Governor Patrick and Secretary Bialecki, along with the Legislature, reformed the program and as a result EDIP has become one of the most effective programs helping businesses grow in Massachusetts. Since these changes, 132 projects have received approval, leading to the creation of 7,893 new jobs, retention of 28,170 existing jobs and leveraging of $3.8 billion in private investment. The EACC has assisted 76 manufacturers through the EDIP program and supported 56 projects in Gateway Cities. The reforms in 2009 also included the creation of important clawback provisions that allows for the Commonwealth to recoup money invested through the credit if companies do not meet their job-creation targets.

The EACC approved the following projects at today’s meeting:

Expansion Projects (EP)

Schneider Electric USA, Inc. (Andover) – Schneider Electric is an international company specializing in energy management, focused on making energy safe, reliable, efficient, productive, and green. Schneider Electric’s new strategy and goals require a modern, highly viable facility which can accommodate operations and showcase product. A site in Andover has been identified as a viable site for this expansion. The company is making a private investment of $9.5 million, which includes the new construction of approximately 67,000 square feet to the existing 158,000 square-foot building. The expansion project will create 75 new full-time jobs and retain 615 full-time jobs in the Commonwealth. The Town of Andover is supporting the project with a five-year Tax Increment Financing agreement valued at $1,224,159. The Economic Assistance Coordinating Council has approved $285,000 in EDIP Investment Tax Credits. Schneider Electric will also be taking advantage of the Commonwealth’s 10 percent Abandoned Building Tax Deduction as the facility has been vacant for seven years.

W.B. Mason Co., Inc. (Brockton) – WB Mason is the world's fifth-largest office products dealer and the largest privately held office products company in the United States with over $1 billion in annual sales. Due to continued growth and steady increase in market share WB Mason needs to expand its corporate operation in administration, sales, finance and other departments. The current facility in Brockton is the company’s corporate headquarters and is favored for this expansion. A private investment of $6 million is expected for structural improvements and modern build-out to convert vacant storage areas into first-class office space. The expansion project will create 50 full-time jobs and retain 273 full-time jobs at the site. The City of Brockton is supporting the project with a 13-year Tax Increment Financing agreement valued at $111,601. The Economic Assistance Coordinating Council has approved $300,000 in EDIP Investment Tax Credits.

Vistaprint USA Incorporated (Lexington) – Vistaprint is a leading online supplier of high-quality graphic design services and wide range of customized printed products to small businesses and organizations. Due to significant growth in its global business and increase in demand for its products and services, the company recognizes a need for additional space. The company conducted a site search throughout Massachusetts and globally. An on-site expansion at Vistaprint’s headquarters in Lexington has been identified as a viable option. The property owner plans to construct a 150,000 square-foot campus-style expansion to its existing 220,000 square-foot facility. Vistaprint will lease and build out approximately 100,000 square feet of the newly constructed space. The total private investment is estimated at $57 million, including $45 million in construction costs paid by the property owner and $12 million in leaseholder improvements and personal property paid for by the company. This expansion project will create 300 full-time jobs and will retain 880 full-time jobs in Lexington. The Town of Lexington is supporting the project with a five-year Tax Increment Financing agreement valued at $1,182,098. The Economic Assistance Coordinating Council has approved $360,000 in EDIP Investment Tax Credits.

FIBA Technologies, Inc. (Littleton) – FIBA Technologies, Inc. is a global manufacturer of high-pressure gas containment equipment and provider of related services to customers in the gas, chemical and alternative fuel industries. The company has experienced a steady growth in sales over the past five years and is at capacity at its current headquarters in Millbury. The company is planning to expand its manufacturing operations and has identified a vacant building in Littleton as a site for possible expansion. An estimated private investment of $14.3 million will facilitate the land and building purchase, as well as substantial building renovations and investment in new manufacturing equipment. The project will create 67 new-full time jobs while the 149 existing employees in Millbury will remain at FIBA’s headquarters. The Town of Littleton is supporting the project with a 20-year Tax Increment Financing agreement valued at $77,220. The Economic Assistance Coordinating Council has approved $772,644 in EDIP Investment Tax Credits. FIBA Technologies will also benefit from the Commonwealth’s 10 percent Abandoned Building Deduction.

Kettle Cuisine LLC (Lynn) – Founded in Massachusetts in 1986, Kettle Cuisine is a leading manufacturer of artisan-quality, fresh, refrigerated and frozen soups for foodservice and retail channels. In the summer of 2012, Kettle Cuisine entered into a business partnership with the Arlon Food and Agricultural Investment Program to advance the company into new markets. As a result, the company is expecting to nearly double in size over the next five years and has identified a 43D Priority Development site in Lynn for a potential expansion. An estimated private investment of $14.5 million will facilitate the lease and retrofit of approximately 200,000 square feet and the new construction of 67,500 square feet of manufacturing space. The expansion project will create 100 new full-time jobs and retain 138 full-time jobs in the Commonwealth. The City of Lynn is supporting the project with a 15-year Tax Increment Financing agreement in the amount of $4,521,489. The Economic Assistance Coordinating Council has approved $1,134,075 in EDIP Investment Tax Credits.

Ken’s Foods Inc./MIP Realty Trust (Marlborough) – Founded in Massachusetts in 1941, Ken’s Foods is the largest privately-owned salad dressing and sauce manufacturer in the United States. The company markets its products under Ken’s Steak House Salad Dressing, Ken’s Labels, Sweet Baby Ray’s, Sticky Fingers and private labels for Paul Newman and others. To position the company for future growth the company evaluated its production capacity at its manufacturing sites in Georgia, Nevada and Massachusetts. The Marlborough site was highlighted as an option for expansion. An estimated private investment of $23 million will enable the purchase of equipment and building improvements to repurpose existing warehousing space for manufacturing and packaging operations. The Expansion Project will create 30 new full-time jobs and retain 438 full-time jobs at the Marlborough location. The City of Marlborough is supporting the project with an 18-year Tax Increment Financing agreement valued $24,004. The Economic Assistance Coordinating Council has approved $600,000 in EDIP Investment Tax Credits.

TripAdvisor LLC (Needham) – Founded in Massachusetts in 2000, TripAdvisor has grown to become a world-leading travel planning and booking website that allows customers to create an ideal, customized trip. Due to increased consumer demand, TripAdvisor has realized a need for additional space. The company has identified a vacant property located in Needham’s New England Business Center. The proposed expansion project consists of leasing an existing 430,000 square-foot facility and new construction of a 230,000 square-foot space. The total private investment is estimated to be $101 million, of which $86 million is to be paid for by the property owner for construction and land costs and $15 million to be paid for by the company in leaseholder improvements and personal property. The expansion project will create 250 new full-time jobs and retain 640 full-time jobs within the Commonwealth. The Town of Needham is supporting the project with a 13-year Tax Increment Financing agreement valued at of $1,849,729. The Economic Assistance Coordinating Council has approved $450,000 in EDIP Investment Tax Credits.

Nash Manufacturing & Grinding Services Inc. (Springfield) – Nash Manufacturing & Grinding Services is a Western Massachusetts manufacturer of custom machined, molded or assembled components. They service a variety of industries including healthcare, automotive, experimental aerospace, food processing and commercial packaging. Nash Manufacturing is both experiencing sales growth and working to implement quality controls that can attract new commercial aircraft customers. The company has located a 6,500 square-foot facility in Springfield as a site for potential expansion, which would nearly double its current manufacturing capacity. A private investment nearly $1.1 million is expected for land and building purchase, relocation and installation of machinery and renovations. Nash Manufacturing & Grinding Services will create two new full-time jobs and retain four full-time jobs in the Commonwealth. The City of Springfield has approved a Special Tax Assessment agreement valued at $29,993. The Economic Assistance Coordinating Council has approved $26,000 in EDIP Investment Tax Credits.

Latino Food Distributors, Inc. / 90 Meat Outlet, LLC (Springfield) – Latino Food Distributors was founded in 2009 as a specialty food manufacturer and grocery wholesaler focused on serving the Hispanic population from Boston to Pennsylvania. Its West Springfield facility was destroyed in the June 2011 tornado and the company has since leased temporary space in the city. The owner of Latino Food Distributers also owns 90 Meat Outlet, a 20,000 square-foot retail butcher establishment in Springfield. The owner plans to construct a 15,000 square-foot addition to the 90 Meat Outlet, to become Latino Food’s headquarters. A private investment of $1.4 million is expected for construction of the new facility and equipment. The expansion project will create seven full-time jobs and retain eight full-time jobs in the Commonwealth. The City of Springfield is supporting the project with a five-year Tax Increment Financing agreement valued at $45,589. The Economic Assistance Coordinating Council has approved $95,550 in EDIP Investment Tax Credits.

General Fire Extinguishers Inc. (Taunton) – Founded in 1975, General Fire Extinguishers began as an owner-operated, one-man business. Today, in addition to fire extinguisher sales, the company offers a wide range of services including business fire suppression systems and other commercial services. The company will construct a facility that will allow for future growth. An estimated private investment of $950,000 is expected for land development, construction costs and equipment. General Fire Extinguishers will create four new full-time jobs and retain eight full-time employees in Massachusetts. The City of Taunton is supporting the project with a 10-year Tax Increment Financing valued at $53,196. The Economic Assistance Coordinating Council has approved $23,000 in EDIP Investment Tax Credits.

T. Marzetti Company / Chatham Village All-Natural Croutons (subsidiaries of Lancaster Colony Corporation) (Wareham) – T. Marzetti is a manufacturer and marketer of specialty foods for the retail and food service markets. The company’s product lines include croutons, salad dressings, dips and frozen breads. A private investment of $9 million is expected for two facilities located on Kendrick Road in Wareham. T. Marzetti will upgrade its existing manufacturing facility’s equipment by acquiring and installing an additional processing line, and will lease and build out a new packaging facility across the street. The expansion project will create 25 new full-time jobs and retain 140 full-time jobs in Wareham. The Town of Wareham is supporting the project with a 20-year Tax Increment Financing agreement valued at $60,155. The Economic Assistance Coordinating Council has approved $625,000 in EDIP Investment Tax Credits.

Tax Increment Financing (TIF) Only: the following projects will not receive an EDIP- Investment Tax Credit

Portugalia Imports Inc. (Fall River) – Portugalia Imports is a family-owned and operated food service company with a retail location and a wholesale business shipping products to restaurants throughout New England. The company has outgrown its current retail and wholesale space, and will purchase and completely rehabilitate a 15,000 square-foot abandoned mill. Additionally, Portugalia will construct an additional 5,000 square feet of space. A private investment of $2 million is expected for the building purchase and rehabilitation, new construction and equipment. The project will create 12 new full-time jobs in the Gateway City of Fall River. The City of Fall River is supporting the project with a five-year Tax Increment Financing agreement valued at $950,000. Portugalia will take advantage of the Commonwealth’s 10 percent Abandoned Building Tax Deduction.

Quest Diagnostics (Marlborough) – Quest Diagnostics is a leading provider of diagnostic testing and advanced healthcare information technology solutions that improve patient care. The company’s growth plans include increased efficiency by merging its New England operations into a single, state-of-the-art regional laboratory facility. The company has identified a 537,000 square-foot space (the former Hewlett Packard facility) in Marlborough as a potential site for expansion. A private investment of $77 million will facilitate necessary leaseholder improvements, laboratory and office space build out, and the purchase laboratory equipment. The project will create 246 new jobs and retain 957 jobs in the Commonwealth. The City of Marlborough is supporting the project with a 15-year Tax Increment Financing agreement valued at $17,179,339.

Waste Management of Massachusetts (Norton) – Waste Management is North America’s leading provider of collection, recycling, and disposal services for residential, government, and commercial customers. To support its continued growth and modernization, Waste Management of Massachusetts plans to merge two trucking operations into a new 30,000 square foot facility in Norton. An expected private investment of $6.6 million will enable construction, build-out and $780,000 in local infrastructure improvements. The expansion will create 10 new full-time jobs and retain 130 full-time jobs in the Commonwealth. The Town of Norton is supporting the project with an 11-year Tax Increment Financing agreement valued at $1,607,565.

Masy Systems Inc. (Pepperell) – Masy Systems is a growing life sciences company providing validation, calibration, equipment rental, and biopharma storage services to the pharmaceutical, biotech and medical device industries. The company has experienced growth in its bio-repository market and has been adding contiguous property to its site to facilitate this growth. The company recently purchased a condo unit to add additional office space and build a -80°C (-112°F) freezer to support the increased demand for its bio-repository services. The private investment is expected to be $2.5 million with property purchase, renovations and equipment. The project will create 10 new full-time jobs and retain 58 full-time jobs in Pepperell. The Town of Pepperell is supporting the project with a 10-year Tax Increment Financing agreement in the amount of $339,138.

High Rock Cranberry Crescent (Plymouth) – High Rock Cranberry Crescent is a development company that purchased two land parcels totaling 57 acres and plans to build approximately 310,000 square feet of new office and retail space. The project has an estimated private investment of $68 million, which includes $5 million in public infrastructure improvements. There are no full-time jobs that are directly created or retained with the development of this land, however, when completed the project could employ up to 700 people through tenant lease agreements. The Town of Plymouth is supporting the project with a five-year Tax Increment Financing agreement in the amount of $701,612.

Mirbeau Boston-South LLC (Plymouth) – Mirabeau Hospitality Services, LLC is a privately-held management company that specializes in the management of boutique, lifestyle inns, hotels, spas and resorts. The company is opening a full-service inn with 50 guest rooms, a 14,000 square foot spa and fitness facility, a fine-dining restaurant and banquet facilities on a 8.3-acre parcel in The Pinehills. A private investment of $21.5 million is expected for the construction and furnishings of the inn. The Town of Plymouth is supporting the project with a 10-year Tax Increment Financing agreement in the amount of $504,167.

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