Bisousweet Confections, LLC (Leominster)
Today, the Commonwealth’s Economic Assistance Coordinating Council (EACC) approved 10 projects for participation in the Economic Development Incentive Program (EDIP). These projects are expected to create 1,672 net new jobs and retain 345 jobs throughout Massachusetts, while leveraging approximately $1.3 billion in private investment. Of the applicants this quarter, five are manufacturers and six are located in Gateway Cities. Additionally, the EACC approved one Vacant Storefront Project and two new Vacant Storefront Districts.
The EACC has approved 304 economic development projects since the beginning of the Baker-Polito Administration in January 2015. These projects will lead to the creation of 24,312 jobs, retention of 41,084 existing jobs, and will leverage almost $7.8 billion in private investment. Additionally, the EACC has assisted 130 manufacturing companies and 136 companies in Gateway Cities during this period.
Bay State Pallet Co., Inc. (Haverhill) Bay State Pallet is a second generation, family-owned wooden pallet manufacturer and recycler. The company plans to build a two-story, 21,900-square-foot addition with loading docks and will be rehabbing an existing 15,000-square-foot abandoned building in the rear of 293 Neck Road that has been vacant for many years. The project entails the creation of three new full-time jobs, the retention of 14 existing jobs, and a private investment of $4.5 million. The city of Haverhill plans to approve a five-year TIF valued at approximately $31,053. The EACC Board has approved EDIP investment tax credits in the amount of $5,000.
Bisousweet Confections, LLC (Leominster) Bisousweet Confections is a wholesale bakery supplying handcrafted baked goods to large retail chains and small independent retailers across the country. Currently they operate from a 5,000-square-foot facility in Shirley, and plan to open a new plant in Leominster to keep up with demand. The building they identified in Leominster has six loading docks and once set up for manufacturing, will allow them to operate much more efficiently. The company plans to create 50 new full-time jobs, retain 20 full-time employees and make a private investment of approximately $2.8 million. The city of Leominster approved a five-year TIF valued at approximately $11,966. The EACC Board has approved EDIP investment tax credits in the amount of $750,000.
Pleasant Street Designs, Inc. (Methuen) Pleasant Street Designs, Inc. dba My Word! has been in the gift and home trade for more than 30 years. They design and manufacture decorative signs that they wholesale to more than 5,000 retailers across the US, including ACE Hardware, Bed Bath & Beyond, Amazon and Kohl’s. They have identified a location that needs a great deal of renovation but would allow them to expand and remain within Methuen. The project entails the creation of 45 new full-time jobs, retention of 89 existing jobs, and a private investment of $2.2 million. The city of Methuen plans to approve a seven-year TIF valued at approximately $52,020. The EACC Board has approved EDIP investment tax credits in the amount of $328,000.
James Hardie Building Products Inc. (Westfield) James Hardie Building Products Inc. (JHBP) is a world leader in manufacturing fiber cement siding, fiber gypsum products and backer board for a number of global markets. In 2019, JHBP acquired the former National Envelope site in Westfield. If selected, the project would consist of an upgrade to the existing facility, establishment of a new ColorPlus Technology coating line, an expansion of the current footprint of the building by approximately 50,000 square feet, and significant rail line improvements. The company plans to create 65 new full-time jobs, retain four full-time employees and make a private investment of $58.2 million. The city of Westfield approved a 10-year TIF valued at approximately $2.2 million. The EACC Board has approved EDIP investment tax credits in the amount of $487,500.
Local Incentive Only Projects:
USRE Patriot, LLC; Amazon.com Services, LLC (Charlton) USRE Patriot, LLC is a Special Purpose Entity (SPE) created for the project. The primary investor in USRE Patriot is US RE Company, LLC a business that acquires, develops, finances, and manages real estate investments. They are proposing the development of approximately 100 acres of land located at a site at 53 Sturbridge Road and construction of a five-story, approximately 2.86 million-square-foot warehouse/distribution facility representing a $300 million private investment, that ultimately will be leased by Amazon and used as an e-commerce storage and distribution facility for consumer products. TIF benefits are expected to be passed through to Amazon who will be creating 1,000 jobs. The company will make a private investment of $300 million. The town of Charlton approved a 10-year TIF valued at approximately $1.8 million (net).
Canal Row, LLC (Holyoke) A Massachusetts limited liability company formed in 2019 to acquire and redevelop various lots in Holyoke. This project will be a mixed-use real estate development that will consist of 60,000 square feet on four floors on the pedestrian-friendly Canal Walk in Holyoke. It will house 45 market-rate rental apartments on the upper floors. The TIF is for the ground level which will be 15,000 square feet of leasable commercial space. The project will result in the creation of two new jobs and an investment of $3.6 million. The city of Holyoke has approved a five-year Tax Financing Agreement with a value of approximately $164,179.
Walgreen Eastern Co., Inc. (Mansfield) This will be a Micro-Fulfillment Center, a new type of high value product warehouse and distribution center with state-of-the-art robotic technology that will improve the efficiency of how high value products are delivered. The Company plans to lease approximately 60,000 square feet at 44 Cabot Blvd. in Mansfield. The $24 million of equipment will implement fully-automated and semi-automated packing workstations, canister replenishment, cart loading and pneumatic fill systems with a robotic conveyor system for more efficient packing, sorting and verifying of high value products. The project entails a total investment of $30 million and the creation of 200 jobs. The town of Mansfield approved a seven-year TIF with a value of approximately $1.08 million.
ModernaTX, Inc. (Norwood) Founded in 2010 and headquartered in Cambridge, Moderna is a leading global biotechnology company. Moderna’s groundbreaking COVID-19 vaccine is currently being used throughout the world to combat the pandemic. To prepare for the Company’s anticipated growth and the continued growth of the COVID-19 vaccine, Moderna needs to expand and a location in Norwood is under consideration. They plan to renovate a 242,198-square-foot facility for clinical manufacturing, lab space and offices and construct a 200,000-square-foot on-site expansion for clinical manufacturing space. The company is creating 300 new jobs, retaining 75 existing jobs and making an investment of $400 million. The town of Norwood approved a 10-year Tax Financing Agreement with a value of approximately $9.1 million.
The Duc Pac Corporation (Springfield) Duc-Pac manufactures prefabricated duct-work for residential forced air systems. They sell and ship their products to the wholesale supply industry and were founded in 1949 in Springfield. By 1956 it had expanded and moved to its current location in East Longmeadow. Their biggest customer is one of the faster growing plumbing and heating distributors in the country. They have identified a property in Springfield that will help them expand their manufacturing capacity, which includes their intention to purchase additional new machinery and equipment. The company is creating seven new jobs, retaining 43 existing jobs and making an investment of $6.1 million. The city of Springfield plans to approve a five-year Tax Financing Agreement with a value of approximately $88,268.
UGPG RE Sutton, LLC (Sutton) UGPG RE Sutton LLC is the special purpose entity of UN1F1ED2 Global Packaging Group LLC. Established in Sutton more than 25 years ago as Atlas Box, UGPG is a joint venture between Atlas Box and Rand Whitney, a subsidiary of The Kraft Group LLC. The project entails developing approximately 266 acres of land on a 450-acre parcel. In total, 2.3 million square feet of new light manufacturing and warehousing with distribution will be constructed. The proposed buildings and personal property associated with the project will be solely located in the town of Sutton. In addition to the buildings, the project will entail construction of a one-mile roadway through the site to provide access and address traffic impacts. The project entails a $475 million investment, and the property owner will create 100 new jobs, and retain of 100 jobs. The town of Sutton plans to approve a 15-year TIF valued at approximately $49.7 million.
Vacant Storefront Project:
The Moran Square Diner (Fitchburg) A key aspect of Fitchburg’s ongoing downtown revitalization efforts has focused on attracting new restaurants to the district. The Moran Square Diner was established in 1939, however, has been closed since 2018. The new owner is only the third owner of the establishment. The diner will have classic diner items like hash and eggs, and oatmeal, but plans to offer greater menu diversity with elevated dishes and will put an emphasis on farm to table eating. The city of Fitchburg has approved a $35,000 low interest loan from Fitchburg’s Small Business Lending Program. Additionally, the company received a $15,000 Storefront Improvement Grant from ReImagine North of Main, a public-private partnership. The EACC approved $10,000 in refundable state tax credits.
Vacant Storefront Districts:
The City of Taunton has applied for two additional non-contiguous vacant storefront districts. One district, the Whittenton Neighborhood, comprises the Bay Street corridor from approximately Whittenton Street to Monroe Street. The second district, Weir Village, is comprised of the Weir Street and West Water Street corridor. Together these districts comprise eight storefronts that have been vacant for over a year.