The Atlantic Red Crab Company (New Bedford)
This week the Commonwealth’s Economic Assistance Coordinating Council (EACC) approved 12 projects for participation in the Economic Development Incentive Program (EDIP). In total, these projects are expected to create 672 net new jobs and retain 1,348 jobs throughout Massachusetts, while leveraging approximately $309 million in private investment. Of the applicants this quarter, seven are manufacturers and five are located in Gateway Cities.
Separately, the EACC also certified the applications of two communities, Ware and Westborough, to join the Massachusetts Vacant Storefronts Program.
The EACC has approved 272 economic development projects since the beginning of the Baker-Polito Administration in January 2015. Combined, these projects have led to the creation of 21,756 jobs, retention of 39,239 existing jobs, while leveraging almost $6.1 billion in private investment. Additionally, the EACC has assisted 118 manufacturing companies and 122 companies in Gateway Cities during this period.
Certified Vacant Storefront Districts:
General Dynamics Mission Systems, Inc. (Dedham) Incorporated in 1952, General Dynamics is a global aerospace and defense company. They are one of the largest companies in Massachusetts and its GDMS division has locations in Dedham, Pittsfield, Quincy, and Taunton. This project is to construct a classified space and install IT equipment to support the country’s national security needs. The space will uniquely position the company to procure additional classified work for the Department of Defense and be a selling point for additional contracts. GDMS plans to create 82 new full-time jobs, retain 285 full-time employees and make a private investment of $8.9 million. The town of Dedham approved a one-time permit fee waiver valued at approximately $130,000. The EACC Board has approved EDIP investment tax credits in the amount of $615,000.
Hutchens Holdings III, LLC (Fall River) Hutchens Holdings is an affiliate of Raw Seafoods, Inc., a family-owned and operated company specializing in the distribution of fresh and frozen scallops, fish and value-added seafood solutions. In 2016 the company constructed a temperature-controlled warehouse to accommodate their growth as well as that of outside customers. The demand for temperature-controlled storage continues and they have purchased almost 25 acres of land in the SouthCoast Technology Park to create additional cold storage capacity. The company plans to create 35 new full-time jobs, retain 395 existing jobs, and make a private investment of $17.5 million. The city of Fall River approved an eight-year TIF with a value of approximately $918,300. The EACC Board has approved EDIP investment tax credits in the amount of $203,000.
Nantucket Sound Seafood, LLC (Fall River) Nantucket Sound Seafood owns its own fishing boats and processes over 100,000 bushels of product each year. They generate 1.5 million pounds of meat which is sold in custom orders to markets in and out of the U.S. The proposed project will consist of the construction of a 12,000-square-foot, two-level building which will contain office space, seafood processing, and seafood packaging space. The company plans to create 15 new full-time jobs, retain 30 existing jobs, and make a private investment of $3.25 million. The city of Fall River approved a five-year TIF with a value of approximately $71,627. The EACC Board has approved EDIP investment tax credits in the amount of $112,500.
The Atlantic Red Crab Company (New Bedford) Founded in 2008, The Atlantic Red Crab Co. is a seafood company that is responsible for harvesting, processing, and shipping, allowing them to provide a 100 percent traceable product. Currently, they have three facilities in New Bedford and plan to purchase another partially vacant building in New Bedford to increase capacity and lower operating costs. Additionally, they plan to invest in new equipment and upgrade it to improve throughput. The company plans to create 28 new full-time jobs, retain 39 existing jobs, and make a private investment of $2,970,900. The city of New Bedford plans to approve a five-year STA with a value of approximately $77,156. The EACC Board has approved EDIP investment tax credits in the amount of $112,504.
Eastern Fisheries, Inc. (New Bedford) Eastern Fisheries is a processor and distributor of fresh and frozen seafood. Primary product lines include domestic and imported sea scallops, Alaskan-caught flounder, Pacific cod and haddock. This project entails relocation and consolidation of their existing New Bedford facilities into one larger facility that will allow them to streamline operations and provide the infrastructure needed to grow the operations. Eastern Fisheries intends to create 50 new full-time jobs, retain 275 existing jobs, and make a private investment of $13 million. The city of New Bedford plans to approve a five-year STA with a value of approximately $420,899. The EACC Board has approved EDIP investment tax credits in the amount of $375,000.
Local Incentive Only Projects:
Emergent Biodefense Operations Lansing, LLC (Canton) Emergent Biodefense Operations Lansing, LLC (EBOL) is a pharmaceutical manufacturing company. The operations are currently primarily dedicated to the manufacture of ACAM2000®, the only single-dose smallpox vaccine licensed by the FDA for active immunization against smallpox disease for persons determined to be at high risk for smallpox infection. The company plans to expand its presence in Canton with the purchase of a building at 80 Shawmut Road to create a campus environment. EBOL is creating 46 new jobs, retaining 119 existing jobs and making a private investment of $75 million. The town of Canton plans to approve a five-year STA valued at approximately $360,710.
Christopher Heights of Concord (Concord) Christopher Heights of Concord will be the seventh affordable assisted living community developed by the Grantham Group. This project will consist of a three-story building containing 83 units of housing with services for residents aged 62+. The project site is on land formerly belonging to the Department of Correction conveyed by the Commonwealth to the Concord Housing Development Corporation for the express purposes of creating affordable housing and open space. The company plans to create 30 new full-time jobs and make a private investment of approximately $20 million. The town of Concord plans to approve a 15-year TIF with a value of approximately $2 million.
Guardian Angels Senior Services, Inc. (Leominster) Guardian Angels Senior Services is a woman-owned business founded in 2003. They provide home healthcare, skilled nursing, companionship and homemaker services to seniors, the disabled and veterans. The company plans to open a new office to service the greater Leominster area and will revitalize an anchor building in downtown Leominster. This new location will result in the creation of 40 new jobs and an investment of $1.47 million. The city of Leominster plans to approve a five-year Tax Financing Agreement with a value of approximately $8,436.
Revance Therapeutics, Inc. (Marlborough) Revance Therapeutics is a biotechnology company, developing innovations in neuromodulators for aesthetic and therapeutic indications. They are evaluating locations for a new facility to accommodate the commercial aseptic fill operations for their injectable RT-002 product along with additional R&D space. The company plans to create 76 new jobs and make an investment of $115 million. The city of Marlborough plans to approve a 15-year Tax Financing Agreement with a value of approximately $7,566,107.
Monogram Gourmet Foods, LLC (Medford) Monogram Food Solutions LLC was founded in 2004 with the purchase and consolidation of King Cotton and Circle B brand meats. Today they have facilities in six states and a broad portfolio of products including: beef jerky, meat snacks, smoked sausage, corn dogs, pre-cooked bacon, frozen appetizers, pre-made sandwiches and other processed food items. The proposed project includes leasing an existing vacant bakery facility that would be retrofitted into a USDA and FDA bakery designed to produce various bakery products. Monogram is creating 250 new jobs and making an investment of $32 million. The city of Medford plans to approve a 10-year Tax Financing Agreement with a value of approximately $997,363.
Globe Composite Solutions, LLC (Stoughton) Founded in 1890, Globe Composites Solutions, LLC, a subsidiary of ESCO Technologies, Inc., is a leading global manufacturer of composite products for defense, submersible, material handling and industrial applications. As a result of increased customer demand the company proposes to construct an 80,000 square foot, on-site expansion and purchase new machinery and equipment. The company intends to create 10 new full-time jobs, retain 85 existing jobs, and make a private investment of $15 million. The town of Stoughton approved a 10-year TIF with a value of approximately $861,085.
Goya Foods, Inc. (Webster) Goya Foods is a family-owned business established in 1936. They are a manufacturer and wholesale distributor of food projects, with distribution, canning and packing facilities across the U.S. Goya currently owns and occupies 205,000 square feet of warehouse space in the town of Webster and is considering investing another $5 million in the construction of approximately 120,000 square feet of space. Goya Foods is creating 10 new jobs, retaining 120 current employees and making an investment of $5 million. The town of Webster has approved a six-year Tax Financing Agreement with a value of approximately $301,200.