EDIP Funds Awarded in 2019

The Baker-Polito Administration and the Commonwealth’s Economic Assistance Coordinating Council (EACC) approved the following projects for Economic Development Incentive Program (EDIP) this year.

EDIP incentives in 2019 support job creation, retention and private investment.

Certified Projects:

A&P Coat, Apron & Linen Supply LLC dba Unitex (Lawrence) Founded over 100 years ago Unitex is a large privately held rental company headquartered in Westchester, NY with 11 plants throughout NY, NJ and New England.  They plan to open their first plant in MA, an 188,653 sq. ft. healthcare linen, uniform and laundry processing facility in the Gateway City of Lawrence.  The company is creating 360 new full-time jobs and making a $35 million private investment.  The city of Lawrence has approved a 10 year Tax Financing Agreement with a value of approximately $4.3 million.  The EACC Board has approved EDIP investment tax credits in the amount of $1,800,000.

Candela Corporation/Syneron, Inc. (Marlborough) Syneron Candela is a global non-surgical aesthetic medical device company.  Their technology enables physicians to provide advanced solutions for a broad range of medical-aesthetic applications.  Founded in 2000, Syneron Candela has its global North American headquarters in Wayland and wants to consolidate into one HQ, operations and R&D location in Marlborough.  The company plans to hire 100 new employees in MA retain 200 employees, and make a private investment of $5 million.  The city of Marlborough has approved a 7 year Tax Financing Agreement with a value of approximately $278,598.  The EACC Board has approved EDIP investment tax credits in the amount of $500,000.

Northern Wind, Inc./Streetsde Realty, LLC (New Bedford) Founded in 1987, Northern Wind is a direct off-loader, processor, and distributor of fresh and frozen scallops, along with other seafood offerings.  They need additional capacity and plan to expand their building footprint by adding a 21,600 sq. ft. freezer building and connecting to a vacant unoccupied building, as well as, purchasing and installing new equipment.  The company plans to create 15 new jobs, retain 99 existing jobs, and make a private investment of $8.4 million.  The city of New Bedford has approved a 10 year Tax Financing Agreement with a value of approximately $130,650.  The EACC Board has approved EDIP investment tax credits in the amount of $225,000.

Maibec Eastern Inc. (Stoughton) Maibec Eastern is a subsidiary of Maibec, Inc., a Canadian Company that is a leader in the pre-staining of siding and shingles.  They plan to purchase the assets of a coatings company, hire the employees, add equipment to diversify current offerings, and launch into pre-staining and painting of siding and shingles in the U.S.  The Company plans to retain 18 full-time jobs, create 35 new jobs, and make an investment of $3.1 million.  The EACC Board has approved EDIP investment tax credits in the amount of $262,500.

B&B Micro Manufacturing, Inc. (Adams) Founded in 2016, B&B Micro Manufacturing is a manufacturer of recreational vehicles and tiny homes on wheels.  They intend to double their current operating space with the purchase of a 24,000 sq. ft. building in Adams.  The company is creating 16 new full-time jobs, retaining 20 existing jobs and making a $978,500 private investment.  The town of Adams is approving a 7 year Special Tax Assessment with a value of approximately $99,792.  The EACC Board has approved EDIP investment tax credits in the amount of $200,000.

Prodrive Technologies, Inc. (Canton) Prodrive Technologies is a developer and manufacturer of high tech electronics and mechatronic systems founded in 1993 in the Netherlands.  They are one of the fastest growing technology companies in Europe and plan to open their first U.S. headquarters in Canton.  The company plans to hire 146 new employees in MA, retain 3 employees, and make a private investment of $21.5 million.  The EACC Board has approved EDIP investment tax credits in the amount of $1,825,000.

New Balance Athletics, Inc. (Methuen) New Balance Athletic Shoe, Inc. is a privately held corporation founded in 1906 and headquartered in Boston.  The company designs, manufactures and sells a complete range of athletic footwear and apparel.  They plan to purchase a property in Methuen to house New Balance's advanced manufacturing operations which includes: advance manufacturing development, automation, research, a pilot operation for the "Factory of the Future", sole injection molding, hot melt bonding technology and 3D manufacturing.   The company plans to create 60 new jobs, retain 15 existing jobs, and make a private investment of $33 million.  The city of Methuen has approved a 10 year Tax Financing Agreement with a value of approximately $271,618.  The EACC Board has approved EDIP investment tax credits in the amount of $900,000.

SecZetta, Inc. (Fall River) Started in 2006 as PMP Resources, they recently merged with SecZetta, a Delaware corporation, based in RI.  SecZetta is an early-stage, third-party identity risk and lifecycle management technology company.  They have just completed a new round of funding, and their current lease is about to expire.  The existing location has space limitations which is driving them to identify new office space locations in Fall River.  The company plans to relocate 93 new full-time jobs, and make a private investment of $495,000.  The city of Fall River is approving a 5 year Personal Property TIF with a value of approximately $36,800.  The EACC Board has approved EDIP investment tax credits in the amount of $200,000.

Electro Magnetic Applications, Inc. (Pittsfield) Founded in 1977, Electric Magnetic Applications located in Lakewood, CO, is a globally recognized leader in the analysis, simulation and measurement of electromagnetic effects.  The company was recently purchased from its founder by three entrepreneurs who hope to open a Pittsfield location and implement a new space effect testing facility.  This would entail leasing a facility in Pittsfield (possibly at the Berkshire Innovation Center), and purchasing equipment to create a space effects radiation test center from which to conduct novel research.  The company plans to hire 6 new employees in MA, and make a private investment of $644,000.  The city of Pittsfield has offered up to $140,000 in an incentives package.  The EACC Board has approved EDIP investment tax credits in the amount of $25,000.

Washington Square Hotel, LLC/J. Karam Management, Inc. (Worcester) J. Karam Management is a 35 year old privately-held real estate development firm that has developed over four million sq. ft. of retail, office and hotel properties, including 4 hotels in MA.  This project will be a 105 rooms and suites for a Hilton Hotel.  It will be 6 stories high and 74,000 sq. ft. comprised of steel and wood construction.  Hotel amenities will include a pool, fitness center, meeting room space and a parking garage.  The company plans to create 35 new jobs, and make a private investment of $21.8 million.  The city of Worcester has approved a 10 year Tax Financing Agreement with a value of approximately $2.1 million.  The EACC Board has approved EDIP investment tax credits in the amount of $262,500.

 

Local Incentive Only Projects:

Lykan Bioscience, LLC (Hopkinton) Founded in 2017, Lykan Bioscience is an emerging manufacturer of clinical products to provide solutions in cell and gene therapy manufacturing.  The company conducted a site search in MA and out-of-state and identified a viable location in Hopkinton.  The project consists of leasing and renovating a vacant, 63,000 sq. ft. building to create a state-of-the-art clinical manufacturing facility.    The company plans to create 125 new jobs, and make a private investment of $12 million.  The town of Hopkinton approved a 10 year TIF valued at approximately $416,788.

Big Y Foods, Inc. (Springfield) Big Y Foods, Inc. is one of the largest independently owned supermarket chains in New England.  The company plans to construct a new 232,000 sq. ft. state-of-the-art wholesale grocery distribution facility, adjacent to its existing distribution center and corporate headquarters.  In addition to constructing the new building, there will be infrastructure improvements, new machinery and equipment, and the demolition of two buildings.  The goal is to expand their distribution capabilities to accommodate growth for the next 10 to 20 years. The company plans to hire 32 new employees, retain 88 full-time employees and make an investment of $46 million.  The city of Springfield has approved an 8 year Tax Financing Agreement with a value of approximately $4.2 million.

Olympus Corporation of the Americas (Westborough) Olympus Corporation of the Americas is an optics company with a strong presence and focus in the medical device industry.  The company plans to consolidate some of its operations into a new 150,000 sq. ft. facility in Westborough. The proposed project allows for additional expansion beyond 150,000 sq. ft. in the event the company decides to consolidate other locations into Westborough in the future.  The company plans to hire 25 new employees, relocate up to 400 full-time employees and make an investment of $21.7 million.  The town of Westborough has approved a 10 year Tax Financing Agreement with a value of approximately $773,710.

GND Realty Trust (Weymouth) GND Realty Trust is a single purpose entity setup to redevelop the site at 1-50 Commercial Street, Weymouth. They are planning a large residential development of 87 units that includes just over 10,000 square feet of commercial space on the first floor of the development. The city is awarding a 10 year TIF for on the commercial square footage valued at approximately $476,250.

Vicor Corporation (Andover) Founded in 1981 and headquartered in Andover, Vicor is a leading global developer and manufacturer of electronic power converters.  The company currently owns and operates an 84,767 sq. ft.  HQ and 226,676 sq. ft. manufacturing facility both in Andover.  Due to increasing demand the company has a need to expand its manufacturing operations.  They plan to construct an 87,000 sq. ft. two-story expansion at their existing manufacturing site and add additional machinery & equipment.  The company plans to hire 40 new full-time employees, retain the existing 562 and make a private investment of $33.5 million.  The town of Andover approved a 6 year TIF valued at approximately $1.6 million.

Beverly Restaurant Associates, LLC (Beverly) Veteran restaurant entrepreneurs plan to construct an approximately 11,000 sq. ft., 350 seat restaurant on the site a former McDonalds.  This building and grounds had become distressed over the years and the City of Beverly now has possession of the property.  The Boathouse Restaurant proposes to create and maintain facilities of a high quality required to attract and retain discerning restaurant customers in a very competitive market. The restaurant plans employ 50 full-time workers and make an investment of $4 million.  The city of Beverly has approved a 5 year STA with a value of approximately $311,273.

Alexandra’s Boutique, Inc. (Fall River) Founded in 1986 in Fall River, Alexandra's is the leader in women's formalwear for the six New England states.  The company has decided to expand its business into the adjacent building at 390 South Main Street, the location of the former Capitol Theatre, expanding their footprint by 10,000 sq. ft.  The company plans to hire 15 new employees, retain 20 full-time employees and make an investment of $2 million.  The city of Fall River has approved a 5 year Tax Financing Agreement with a value of approximately $67,379.

Textile Innovation Group for Instrumentation and Research, LLC (TIGIR)/The Merrow Group Companies (Fall River) The Merrow Group companies are owned and operated by Owen and Charlie Merrow and consists of Merrow Manufacturing, Merrow Sewing Machine Company and now TIGIR.  This project is the purchase of the building Merrow operates in currently, as well as the purchase of new equipment and major facility upgrades.  It corresponds with the current EDIP project approved for Merrow in September 2017, therefore the job count is reflected in the previous project.  The city is awarding a 5 year STA valued at approximately $146,677.

Raw Seafoods, Inc. (Fall River)   Raw Seafoods, Inc. is a family owned and operated seafood processing company in Fall River that specializes in fresh and frozen scallops, fish and value-added seafood solutions.  They plan to build out an additional 10,000 sq. ft. The city of Fall River has approved a 5 year Tax Financing Agreement with a value of approximately $71,939.

Medusa Brewing Company (Hudson) Founded in 2015, Medusa Brewing Company is a microbrewery located on Main St. in Hudson.  The company purchased one of the only undeveloped plots of land in Hudson's downtown commercial area for a brewery expansion.  The building will consist of new, sustainable-minded construction, and house state-of-the-art brewing equipment.  The Local Incentives worked out with the Town of Hudson will afford Medusa Brewing Co. the ability to finance the remaining funds required to execute the project comfortably and reliably.  The company plans to hire 15 new employees, retain 10 full-time employees and make an investment of over $8 million.  The town of Hudson has approved a 10 year Tax Financing Agreement with a value of approximately $297,000.

IBA, Inc. (Sutton) Founded in 1960, IBA, Inc. is a third-generation, family-owned wholesaler and distributor of high-quality supplies and services for the dairy farm industry.  The company currently owns and occupies a 30,000 sq. ft. building in Millbury and leases 10,000 sq. ft. of warehouse space in Sutton.  As a result of increased demand, IBA has a need to expand, relocate and combine its operations into one modern, high-tech facility.  The company plans to purchase land and construct a 72,000 sq. ft. facility for its Corporate HQ and sales and distribution operation in Sutton.  The company plans to hire 2 new employees, relocate up to 46 full-time employees and make an investment of $8.5 million.  The town of Sutton has approved a 15 year Tax Financing Agreement with a value of approximately $746,621.

Toll Brothers, Inc. (Westfield) Toll Integrated Systems, builds home construction components and is a division of Toll Brothers Inc., a residential home builder.  The company plans to start a new small home components operation and has signed a lease with an option to buy a plant in Westfield.  This manufacturing operation will be the first plant of this type for the company in New England.       The company plans to create 20 new jobs, retain 15 existing jobs and make a private investment of $3.8 million.  The city of Westfield approved a 5 year STA valued at approximately $22,919.

Citizens Bank N.A. (Westwood) Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions.  The company plans to consolidate current facilities in Canton, Dedham and Westwood into a new location in Westwood at University Station.  The building will be occupied by the company's executive team, business services, consumer banking, risk management, finance, human resources and other related services and support.  The company plans to hire 50 new employees, relocate 550 full-time employees and make an investment of $20 mill

Gordon Industries, Inc. an affiliate of Amramp, LLC (Randolph) - Headquartered in South Boston and founded in 1998, the Company is a second-generation, family-owned manufacturer of modular wheelchair ramps and other accessibility solutions. Currently the company occupies 30,000 sq. ft. of space in South Boston for its Corporate HQ and manufacturing operations.  They need to expand due to increased demand for their products and plan to relocate to Randolph and combine their operations into one facility.  The company plans to hire 5 new full-time employees, retain the existing 40 and make a private investment of $1.1 million.  The town of Randolph approved a 6 year STA valued at approximately $313,000.ion.  The town of Westwood has approved a 14.5 year Tax Financing Agreement with a value of approximately $2.6 million.

250 Riverwalk, LLC (Lawrence) The project is a $101 million historic rehabilitation of the Wood Mill Building E, a 403,000 sq. ft. mill building that is a part of the Wood Mill complex. The project will include 272 market rate loft apartments, a 130 car underground garage, and, relevant to the TIF, 50,000 sq. ft. of commercial space. The costs associated with the commercial square footage, which is 12% of the overall project, are $16.9 million.  The city of Lawrence approved a 10 year TIF valued at approximately $218,000.

282 Riverwalk, LLC (Lawrence) 282 Riverwalk is a $50 million new construction development at Riverwalk. It will be comprised of 77,000 sq. f.t of retail, restaurants and commercial space, including a 1200 precast parking garage with three levels attached to an adjacent end cap building, 5 elevators including 3 service elevators, a regulation size turf field which will incorporate lacrosse, football, soccer, track, including locker rooms, lighting and scoreboards.  The city of Lawrence has approved a 10 year TIF with a value of approximately $2.2 million.

ModernaTX, Inc. (Norwood) Founded in 2010 and headquartered in Cambridge, Moderna is a leading clinical stage biotechnology company. Moderna is expanding its real estate footprint beyond its current locations.  The company has proposed plans to lease an estimated 229,707 sq. ft. facility and renovate 88,000 sq. ft. of the space in 2020.  The company plans to fully occupy the entire building and renovate the remainder of space when the current subtenant vacates the property.  The company plans to hire 100 new employees, retain 250 full-time employees and make an investment of $21.8 million.  The town of Norwood has approved a 10 year Tax Financing Agreement with a value of approximately $1.4 million.

 

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