(Caption: OYO Sportstoys, Inc. has created a series of New England sports figures)
Last week the Economic Assistance Coordinating Council (EACC) approved 17 projects for participation in the Economic Development Incentive Program (EDIP). These projects are expected to create 1,008 new jobs and retain 1,291 jobs throughout Massachusetts, while leveraging approximately $487.1 million in private investment.
Governor Charlie Baker called the funding “a tool for companies across Massachusetts to realize growth and expansion opportunities. Expansion and hiring incentives are cost-effective investments for the Commonwealth to expand a business friendly climate, and to catalyze significant, sustained economic growth.”
Lieutenant Governor Karyn Polito said the program “strengthens our businesses and communities and helps sustain growth from Boston to the Berkshires.”
Since January 2015, the EACC has approved 60 economic development projects that in total will create 3,329 jobs, retain 4,707 existing jobs, and leverage more than $1 billion in private investment. This year, the EACC has assisted 31 manufacturing companies and 27 companies in Gateway Cities.
Assistant Secretary for Business Development Nam Pham the EDIP ensures that “Massachusetts has a wide range of competitive sectors – from distribution to manufacturing and high-tech. This broad business base lays a foundation for sustained economic growth and prosperity.”
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.
Associated Environmental Systems Inc. (Acton) — Since 1959, Associated Environmental Systems has designed and manufactured test chambers that range in size from small bench top chambers to large environmental rooms. AES has developed a loyal customer base from the fields of aerospace, pharmacology, electronics, automotive, semiconductors, and computers. AES plans to invest more than $3.1 million in a new facility in Acton, which will double the company’s manufacturing, administrative office, and R&D showcasing space, while allowing it to create 65 new jobs and retain 47 jobs. The Town of Acton approved a 5-year Special Tax Assessment (STA), valued at $126,750. The EACC Board approved $236,500 in investment tax credits.
KROHNE, Inc. (Beverly) — KROHNE is a worldwide supplier of innovative measurement solutions for the process industry. Since its founding in 1921, KROHNE has opened 17 production facilities in 12 countries, with 3,500 employees. The company primarily serves the chemical and petrochemical, food and beverage, water and wastewater, oil and gas, marine, power, paper, metal, and pharmaceutical industries. Some of KROHNE’s customers are Dow Chemical, BASF, Foxboro, Honeywell, Coca-Cola, Siemens, and Solvay. KHRONE is making a $20 million investment to purchase a 95,000 square foot facility, which will create 54 jobs and retain 45 jobs, and allow for onshoring of 3 manufacturing lines currently located overseas. The City of Beverly approved a 10-year Tax Incentive Financing (TIF) agreement valued at $111,615. The EACC Board awarded $320,000 in investment tax credits.
Webco Chemical Corporation (Dudley) — Since its founding in 1956, Webco has produced cleaners and specialty chemicals for a wide variety of manufacturers and distributors. Currently, Webco blends and packages over 2,000 different liquid and powder cleaners and specialty products, which are then sold to buyers in an array of industries. The company plans to add 30,000-45,000 square feet to its existing building to increase its manufacturing space. Webco will invest $6.9 million, create 15 new jobs and retain 53 employees. The Town of Dudley has approved a 10-year TIF, valued at $80,388.The EACC awarded the company with $136,000 in investment tax credits.
Cold Chain Technologies, Inc. (Franklin) — Cold Chain Technologies manufactures thermal packaging solutions. CCT originally made thermal packaging solely for seafood shipment, but has since evolved to create highly engineered products for the pharmaceutical and biotechnology industries. Currently, CCT operates in three different buildings, located in Holliston. In order to support the company’s robust growth and make its current operations more efficient, CCT plans to consolidate and expand to a new site in Franklin, and create 55 jobs. The company plans to spend $12.5 million on this project and will be retaining 135 jobs. The Town of Franklin has approved an 11-year TIF, valued at $149,087. The EACC Board awarded CCT with $550,000 in investment tax credits.
International Container Company, LLC (Holyoke) — International Container Company has served the solid waste industry in New England and the Mid-Atlantic region with high quality products for nearly 20 years. The company specializes in roll-off, hook-lift, and front and rear load containers, as well as a variety of special application containers including rolling roofs, square and octagon style breakaway boxes, self-contained and stationary compactors, recycling containers, flat beds, and custom containers. ICC plans to construct a 10,400 square foot addition to its existing building in Holyoke to increase its manufacturing space. In addition, the company intends to purchase approximately $300,000 to $500,000 of equipment to support the increase rate of output that the new addition will provide. The City of Holyoke approved a 5-year TIF, valued at $30,546. The company, which is expected to create 5 new jobs and retain 45 jobs, was awarded $62,500 in investment tax credits by the EACC.
OYO Sportstoys, Inc. (Marlborough) — OYO Sportstoys, Inc. is a local manufacturing company that produces mini-figure toys that resemble famous athletes. The company has agreements with the MLB, NFL, NCAA, and NHL and their players associations to produce toys featuring their star players. OYO plans to expand to include soccer, basketball, and other sports. The company currently leases a 30,000square foot facility in Acton. Due to increased demand, OYO plans to invest $8,000,000 and relocate to a 65,000square foot facility in Marlborough. This leased space will serve as a manufacturing facility and corporate headquarters. The company, which expects to create 100 jobs and retain 95 jobs was awarded $480,000 in investment tax credits. Additionally, the company received a 10-year TIF from the City of Marlborough, valued at $140,853.
New England Ice Cream Corporation (NEICC)/Ginsberg Taunton Properties, LLC (Norton) — NEICC is a full-service ice cream distributor, specializing in ice cream, slush, beverages, fresh dairy, and snacks. NEICC serves a wide range of customers, including retail chains, ice cream shops, restaurants, hotels, casinos, recreational organizations, hospitals, and educational institutions. The company’s portfolio was enhanced when it was selected as the exclusive distributor in Southern New England for the Unilever ice cream portfolio, which includes Ben & Jerry’s, Bliss Bros., Gifford’s, Breyers, Popsicle, Good Humor, Klondike, and Hood. Due to increased demand, NEICC plans to invest $10 million to relocate and consolidate its Taunton and Avon operations into a new 65,000 square foot facility in Norton. The new building will serve as the corporate headquarters, warehouse and distribution center. This project is expected to create 20 new jobs and retain 85 jobs. The Town of Norton approved a 15- year TIF with a 15-year personal property tax exemption, valued at $1,041,980. The EACC board awarded $100,000 in investment tax credits.
Falvey Linen Supply, Inc. (Springfield) — Falvey Linen Supply is a family-owned and operated commercial laundry business headquartered in Cranston, RI. The company, founded in 1929, currently employs more than 280 people. Falvey Linen Supply plans to spend $8.6 million to purchase and renovate an abandoned building in Springfield, in order to open a second laundry production facility and create 125 jobs. The City of Springfield approved a 5-year TIF, valued at $139,572. The EACC board awarded $625,000 in investment tax credits.
Boise Cascade Company dba Boise Cascade Building Materials Distribution, LLC (Westfield) — Boise Cascade Company distributes building materials, such as lumber, studs, and plywood, composite decking, trim, engineered lumber, roofing materials, and siding, on a wholesale basis to lumberyards, home centers, industrial accounts, and other retail businesses across the country. The company’s Westfield branch, which opened in 1999, primarily serves customers in Massachusetts, Vermont, Rhode Island, Connecticut, and New York. The company, headquartered in Boise, ID, plans to develop 7.5 acres in Westfield, and build an 85,000 square foot warehouse storage facility and a 12,000 square foot sales office. The company will invest $7,955,000, create 9 new jobs, and retain 79 jobs. The City of Westfield approved a 5-year TIF, valued at $226,057. The EACC board awarded Boise Cascade Company $67,500 in investment tax credits
Local Incentive Only Projects:
Commercial Yard, LLC / D.W. Clark, Inc. (Brockton) — Commercial Yard, LLC is the land owner and affiliate of D.W. Clark, Inc., a metals manufacturing business with facilities in East Bridgewater and Taunton. D.W. Clark, Inc. was founded in 1902 as a foundry business. Over the years, it has grown into a specialty metals manufacturing business and has successfully updated its operations to meet the standards of the defense, aerospace, power generation, power transmission, extractive, manufacturing, communications, and shipping sectors of the global economy. The company is expanding its capacity in several segments of the metals manufacturing business and will entirely gut and renovate the former LeBaron Foundry site in Brockton. The company will invest $6,000,000 and create 25 new jobs. The City of Brockton approved a 15-year TIF, valued at $1,152,318.
EMD Millipore Corporation (Burlington) — EMD Millipore Corporation, the global life sciences business of Merck KGaA of Darmstadt, Germany, offers solutions and services for research, development, and production of biotechnology and pharmaceutical drug therapies. EMD Millipore serves as a strategic partner for scientists, engineers, and researchers around the world and has a portfolio of more than 60,000 products. The company currently leases and maintains its life science business office in Billerica, MA and occupies other locations in Bedford and Danvers. Due to increased customer demand, EMD Millipore needs to relocate and consolidate its Billerica operation and portions of its other Massachusetts locations in a new facility, located in Burlington. The company is investing $165 million in this project and will be retaining 400 employees in the Commonwealth. The Town of Burlington approved a three phase, 15-year TIF, valued at $3,112,032.
Demoulas Super Markets, Inc. / 40 Federal Street Realty Holdings (Lynn) — Demoulas Super Markets, Inc. (DSM) operates 75 supermarkets and 3 distribution centers across Massachusetts, New Hampshire, and Maine, employing approximately 25,000 people. DSM provides high quality groceries at the best prices, while serving as an anchor to other retail development in various communities. The company plans to redevelop a vacant and contaminated 16.3 acre parcel in downtown Lynn. The project, which is expected to cost $22 million, will include the renovation of an existing abandoned factory building to accommodate a Market Basket supermarket, development of additional retail and/or office space, and infrastructure upgrades to improve traffic congestion in the area. The project will create 75 jobs. The City of Lynn approved a 20-year TIF and a 5-year personal property tax exemption, valued at $3,699,300.
Shuster Corporation (New Bedford) — Shuster Corporation, founded in 1916, is a New Bedford-based multi-national supplier of industrial bearings and power transmission products. Shuster also offers supply chain management solutions. The company was purchased in 2007 by Motion Industries. Shuster Corporation plans to spend $140,000 to renovate and move to a new 65,000 square foot space in New Bedford, in order to expand its product lines and customer base. By leasing this property, the company will double its current warehousing and office space. The company plans to hire 4 new employees and retain 35 existing positions. The City of New Bedford approved a 5-year STA, valued at $169,914
Alnylam U.S., Inc. (Norton) — Alnylam is a biopharmaceutical company that develops novel therapeutics based on RNA interference, or RNAi. Alnylam focuses on genetic medicines, cardio-metabolic disease treatments, and hepatic infection disease treatments. Several therapeutics are now in late stages of development and Alnylam is preparing for commercial production and launch. The company plans to spend $100 million on a new facility in Norton, machinery, and equipment, in order to control a significant portion of its production capacity. The company plans to create 220 new jobs. The Town of Norton approved a 13-year TIF, valued at $7,055,246.
Horner Millwork, North Atlantic Corp. (Somerset) — Horner Millwork is a distributor and manufacturer of windows, doors, kitchens, stairs, millwork, and commercial building products. The company plans to purchase new machinery, including a Woodworking CNC, a CNC Door Manufacturing Machine, and reaching and ancillary supporting equipment. Horner Millwork will also expand its current facility by 20,000 square feet and create 2 floors of new manufacturing and warehouse space. Lastly, the company plans to install a 1 megawatt solar energy facility in order to reduce its carbon footprint. The company, which is expected to spend $7 million and create 15 jobs, while retaining 272 existing positions, received a 12-year TIF, valued at $647,568 from the Town of Somerset.
CNR MA Corporation and CNR Springfield LLC (Springfield) — CNR MA Corporation and CNR Springfield LLC are affiliates of China CNR Corporation, a leading company that manufactures and refurbishes rolling stock. Its products include high-speed multiple units, locomotives, passenger coaches, and other rail transportation vehicles, machinery, and equipment. CNR MA Corporation was recently awarded a major contract to provide new Red and Orange Line trains for the MBTA. They will spend $107 million to develop a 213,000square foot facility in East Springfield, which will include an assembly plant and associated track, parking areas, office space, and other accessory and ancillary uses. The company, which is expected to create 150 jobs, will receive a 10-year TIF from the City of Springfield, valued at $9,847,580.
G & G Medical Products, LLC (Ware) — G&G Medical manufactures and distributes disposable incontinent products. Currently, the company’s products are manufactured in China. G&G plans to spend $1.5 million to purchase American Disposables and move its manufacturing operations from China to Ware. This project is expected to create 71 jobs. The town of Ware approved a 10-year STA, valued at $42,106.