ABLE Machine Tool Sales, Inc. in Agawam, Massachusetts
This week, the Baker-Polito Administration and the Economic Assistance Coordinating Council approved state and local incentives for six companies in Massachusetts through the Economic Development Incentive Program (EDIP). The six projects are expected to create 423 new jobs and retain 193 jobs throughout the six certified projects, leveraging $48 million in private investment with the support of either state or local tax incentives.
Governor Charlie Baker called the EDIP “part of our administration’s comprehensive efforts to expand and create jobs in the Commonwealth and pursue strategies for long-term economic growth. We look forward to continuing to collaborate with municipal leaders on opportunities to leverage existing assets in every region, by investing in downtowns, transforming underutilized land, and facilitating high-impact development projects that will create new jobs for residents.”
Earlier this month, Governor Baker filed new economic development legislation, which included proposals to reform and enhance the mission and effectiveness of the EDIP program. The legislation also proposed the creation of a new regional economic development program that would allow municipalities to partner with the Commonwealth on projects designed to spur significant job creation.
Lt. Governor Karyn Polito said the announcement “will support expansion projects and bring new, private investment to six communities including three Gateway Cities in the Commonwealth. We are pleased to partner with local communities to encourage companies to remain in their hometowns and create more local opportunities.”
Housing and Economic Development Secretary Jay Ash said, “We are excited to see the variety of companies expanding here in Massachusetts, which are producing innovative products, and providing critical services in the region. We look forward to working with our partners in the legislature to pass our economic development legislation, and working with more municipalities and companies to pursue more economic development opportunities.”
The six certified projects call for the creation of 423 new jobs and retention of 193 jobs.
Assistant Secretary of Business Development & International Trade Nam Pham said, “Growing companies to scale is important to the Massachusetts economy. These incentives will help businesses expand their operations while adding jobs in Massachusetts.”
Since 2015, the EACC has approved 179 economic development projects throughout the Commonwealth. These projects will lead to the creation of 9,875 jobs, retention of 21,501 existing jobs, and will leverage over $3.5 billion in private investment. Additionally, the EACC has assisted the expansion and continued success of 78 manufacturing companies and 81 companies in Gateway Cities.
ABLE Machine Tool Sales, Inc. (Agawam) – ABLE sells, supports and services computerized control equipment throughout New England. The company plans to purchase land and build a new facility down the street from its existing facility, which will accommodate future growth and increase floor space by 50% and increase parking by 100%. The incentives will facilitate the move and allow the company to expand services into machine customization and upgrade services. ABLE plans to hire 10 new employees, retain 30 employees, and make a private investment of $2.46 million. The Town of Agawam has approved a five-year Tax Increment Financing (TIF) Agreement with a value of approximately $156,000. The EACC Board has approved EDIP investment tax credits in the amount of $75,000.
99Degrees Custom, Inc. (Lawrence) Launched in 2013, 99Degrees Custom is a woman-owned business that manufactures functional active wear for emerging and global brands. The company is currently evaluating three potential sites in Lawrence to support itsgrowth. 99Degress also plans to invest in state-of-the-art sewing machinery, automation technologies, and energy efficient systems. To accommodate this growth, the company plans to hire 350 new employees, retain 60 employees, and make a private investment of $4 million. The EACC Board has approved EDIP investment tax credits in the amount of $2.8 million.
Process Cooling Systems (Leominster) PCS began as a small business in Leominster and has been at its current location for 54 years. The company designs, builds, and installs large-scale chilled water systems for manufacturing businesses, and is at maximum capacity in its current facility. Process Colling Systems plans to purchase 4.8-acres of industrial land in Leominster to build a new facility, hire 16 new employees, retain 49 employees, and make a private investment of $5.6 million. The City of Leominster has approved a 10-year (TIF) Agreement with a value of approximately $625,000. The EACC Board has approved EDIP investment tax credits in the amount of $200,000.
Plumber’s Supply Company (New Bedford) PSC is a family-owned and operated plumbing, heating, and HVAC distributor serving both the residential and commercial contracting markets, and operates a retail kitchen and bath showroom. Currently, the company is looking to expand to a 175,000-square-foot facility, with additional capacity of up to 300,000 for future growth. PSC plans to hire seven new employees, retain 43 employees, and make a private investment of $19 million. The EACC Board has approved EDIP investment tax credits in the amount of $70,000.
Local Incentive Only Projects:
Ja’Duke, Inc. (Montague) Founded in 1997 as a production company, the company opened the Ja’Duke Center for the Performing Arts in 2004 in downtown Turners Falls. The Center specializes in classes for singing, dancing, and acting for children and adults. In 2007, Ja’Duke built its own performing arts center in the industrial park in Turners Falls and is now looking further, with an 18,000-square-foot facility. The company plans to hire 10 new employees, retain 11 employees, and make a private investment of $1.8 million. The Town of Montague has approved a 10-year (TIF) Agreement with a value of approximately $95,000.
Ware Senior Living, LLC (Ware) Optimus Senior Living was formed in 2009 with the purpose of developing assisted living facilities. Ware Senior Living is a project-specific LLC that will construct and run a facility in Ware that will offer independent living, assisted living, and memory care accommodations. The facility plans to employ 30 full time employees and make a private investment of $15 million. The Town of Ware approved a five-year Special Tax Assessment valued at approximately $707,000.