Lowell Legacy Hotel (Lowell) The project will renovate and restore the Putnam Building into the proposed Lowell Legacy Boutique Hotel adding much needed hotel rooms to the city. The hotel plans to create 19 new full-time jobs, and make a private investment of $13.6 million. The city of Lowell is approving a 10 year TIF with a value of approximately $1.7 million. The EACC Board has approved EDIP investment tax credits in the amount of $142,500.
Cometeer, Inc. (Gloucester) Founded in 2015 and backed by successful entrepreneurs, Cometeer, Inc. is a technology company in the beverage space which has developed novel extraction and cryogenic processing techniques in the field of coffee. They plan to turn a former seafood processing facility in Gloucester into their primary manufacturing, logistics management and R&D site; a state-of-the-art extraction and processing facility. The company plans to create 150 new full-time jobs, retain seven full time employees and make a private investment of $24.4 million. The city of Gloucester is approving a seven-year TIF with a value of approximately $46,865. The EACC Board has approved EDIP investment tax credits in the amount of $139,600.
Monogram Gourmet Foods, LLC (Haverhill) Monogram Food Solutions, LLC was founded in 2004 by acquiring the King Cotton and Circle B brand meats from Sara Lee. Today they are a leading manufacturer and marketer of packaged and value-added meat products, snacks and appetizers. The company plans to construct a 135,000 square foot state-of-the-art distribution facility which will include a multi-temperature zone warehouse and 11 pre-made sandwich production lines. Monogram Gourmet Foods plans to create 354 new full-time jobs, retain 109 existing jobs, and make a private investment of $43.6 million. The city of Haverhill is approving a 10-year TIF with a value of approximately $766,286. The EACC Board has approved EDIP investment tax credits in the amount of $925,000.
Local Incentive Only Projects:
Interactions, LLC (Milford) Founded in 2004, Interactions is a global technology company that builds omni-channel Intelligent Virtual Assistant (IVA) applications. The company currently occupies and leases a 35,000 sq. ft. facility in Franklin, but needs to expand. They have identified a vacant 52,700 sq. ft. building in Milford and plan to transform it into a state-of-the-art Corporate HQ and technology center. The company plans to hire 100 new employees, retain 200 full-time employees and make an investment of $7 million. The town of Milford approved a 10 year TIF valued at approximately $530,000.
Rentschler Biopharma, Inc. (Milford) Founded in 1927 and headquartered in Germany, Rentschler is a global manufacturer of biopharmaceutical products. In 2019 the company purchased and now occupies an estimated 108,340 sq. ft. facility in Milford. The proposed project consists of constructing a 24,000 sq. ft. expansion to create a life sciences campus in Milford. The company plans to hire 75 new employees, retain 85 full-time employees and make an investment of $55 million. The town of Milford approved a 12 year TIF valued at approximately $1.62 million.
New England Cold Storage, LLC (Sturbridge) New England Cold Storage is planning to build a state-of-the art refrigerated distribution warehouse of approximately 63,000 sq. ft. with 7,500 sq. ft. of office space and mechanical rooms. They plan to have onsite battery storage of energy to reduce peak demand charges. The company plans to hire 18 new employees and make an investment of $17.5 million. The town of Sturbridge has approved a 10 year Tax Financing Agreement with a value of approximately $1.4 million.
Sam Park & Company, LLC (Tyngsborough) Founded in 2001, Sam Park & Company is a real estate development firm that focuses on retail shopping centers. They plan to redevelop the former T.J. Maxx Plaza in Tyngsborough, a currently defunct shopping center. The project will consist of a total overhaul of buildings, a major upgrade of utilities, restoration of the storm water collection system, and the installation of new sewer system. The company plans to make a private investment of $18 million, and the town of Tyngsborough approved a 15 year TIF valued at approximately $2.1 million.
Pieco Holdings, Inc. (Worcester) Table Talk Pies, Inc. is a family-owned food manufacturing business that has been in Worcester since 1924. The Kelly Square location is the oldest of their locations and is in the area where the new Polar Park is to be built. Because of this and to accommodate future growth they plan to build a 120,000 sq. ft. new state-of-the art energy efficient factory complex in Worcester's Main South neighborhood. Table Talk Pies is creating 50 new jobs, retaining 130 jobs, and making a private investment of $22.2 million. The city of Worcester has approved a 20 year Tax Financing Agreement with a value of approximately $3.7 million.
WuXi Biologics, USA, LLC (Worcester) WuXi Biologics USA, LLC is a leading global contract development and manufacturing organization. The proposed project involves WuXi's acquisition of land and construction of a 107,000 sq. ft. biopharmaceutical development and manufacturing facility. The site represents a portion of the land where the former Worcester State Hospital operated. The company plans to create 150 new jobs, retain 10 existing jobs, and make a private investment of $60 million. The city of Worcester has approved a 20 year Tax Financing Agreement with a value of approximately $9.7 million.
YWCA CM QALIB, LLC (Worcester) The YWCA of Central MA has been providing services for women and their families for more than 130 years. The 80,000 sq. ft. five-story building was built in 1961, has had minimal renovations and due to budget constraints, suffered significant deferred maintenance. They are planning a large-scale renovation including all major building systems, and will make all areas compliant with accessibility requirements. As a non-profit entity they do not pay real estate taxes, however they plan to finance the renovations by utilizing Federal Historical Tax Credits. To be eligible, they plan to temporarily transfer to a for-profit entity for the first 8 years of operations. The project will create 5 new jobs, retain 68 jobs, and make a private investment of $26 million. The city of Worcester has approved an 8 year Tax Financing Agreement with a value of approximately $5.4 million.
New England Biolabs, Inc. (Ipswich) New England Biolabs is a recognized world leader in the discovery and production of enzymes for molecular biology applications. They are proposing an expansion to their existing campus that will add 100,000 square feet of space to be utilized by their production manufacturing process which is currently constrained. The addition will also include underground parking that will accommodate future hiring. The company plans to hire 100 new employees, retain 352 full-time employees and make an investment of $40 million. The town of Ipswich will vote to approve a 10-year TIF valued at approximately $1.9 million at a fall Town Meeting.
Amazon.com Services, LLC (North Andover) Amazon.com Services, LLC plans to develop approximately 110 acres of land located at 1450 Osgood Street in North Andover. This site will become an ecommerce storage and distribution facility for consumer products, and consist of a five-story, approximately 3.8 million square foot facility. The Project would include the development of the facility and all infrastructure (site work, utilities, and roadway improvements) and associated exterior improvements (parking and loading areas, sidewalks, landscaping and lighting) related to its operation. Amazon intends to hire 1,500 new employees, and make an investment of $400 million. The town of North Andover approved a 10-year TIF valued at approximately $27 million.
John’s Building Supply/WJK Realty, Inc. (Pittsfield) For over 50 years Johns Building Supply has been one of New England's premier masonry and landscaping suppliers. They plan to relocate their retail location across the street from their current location due to the extension of the Ashuwillticok Rail Trail. Additionally, they are taking this opportunity to expand the retail portion of the business to 8,000 square feet. The company is creating four new jobs, retaining nine current employees and making an investment of $850,000. The city of Pittsfield has approved a five-year Tax Financing Agreement with a value of approximately $61,751.
Somnath, LLC (Pittsfield) Somnath, LLC was formed by brothers, Mauer and Dilip Desai to build a new 77 room Holiday Inn Express on property they currently own. Previously the property operated as a Comfort Inn until it was demolished in 2014. The project will create 15 new jobs, and entail a private investment of $10 million. The city of Pittsfield has approved a 6-year TIF valued at approximately $992,880.
|Last updated:||June 18, 2020|