Photo: Monogram Gourmet Foods, LLC (Haverhill)
Today, the Commonwealth’s Economic Assistance Coordinating Council (EACC) approved six projects for participation in the Economic Development Incentive Program (EDIP). These projects are expected to create 2,123 net new jobs and retain 477 jobs throughout Massachusetts, while leveraging approximately $519 million in private investment. Of the applicants this quarter two are manufacturers and three are located in Gateway Cities. The EACC also voted to approve two new Certified Vacant Storefront Projects that will add food and beverage options in Webster.
The EACC has approved 252 economic development projects since the beginning of the Baker-Polito Administration in January 2015. These projects will lead to the creation of 20,834 jobs, retention of 37,630 existing jobs, and will leverage over $5.7 billion in private investment. Additionally, the EACC has assisted 108 manufacturing companies and 114 companies in Gateway Cities during this period.
Certified Vacant Storefront Project approved at this meeting:
- Stave & Still, Inc. dba Cask & Vine, Webster – $10,000 in refundable EDIPC tax credits
- Monte Verde Restorante, Webster – $10,000 in refundable EDIPC tax credits
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:
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.
Background on Vacant Storefront Projects:
Stave and Still, Inc. dba Cask & Vine (Webster) Cask & Vine will be an upscale, on premise establishment focused on craft spirits and beer, hand-crafted cocktails, with a boutique wine selection and “farm to table” light fare. They will be located in the Webster Redevelopment Area and plan to bring a historic building back to its original character.
Monte Verde Restorante (Webster) The owners of the Monte Verde Restorante currently own and operate another restaurant, Monte Biance In Thompson, CT, and had been looking for a new space to open another restaurant in their hometown. This restaurant is expected to add to downtown Webster’s vibrancy.