Today, the Commonwealth’s Economic Assistance Coordinating Council (EACC) approved 11 projects for participation in the Economic Development Incentive Program (EDIP). These projects are expected to create 782 net new jobs and retain 828 jobs throughout Massachusetts, while leveraging approximately $648 million in private investment.
Of the applicants this quarter, six are manufacturers and two are located in Gateway Cities. Additionally, two new Vacant Storefront Projects were approved that will receive refundable tax credits of $15,200.
The EACC has approved 334 economic development projects since the beginning of the Baker-Polito Administration in January 2015. These projects will lead to the creation of 26,047 jobs, retention of 43,612 existing jobs, and will leverage over $9 billion in private investment. Additionally, the EACC has assisted 150 manufacturing companies and 148 companies in Gateway Cities during this period.
Munters Corporation (Amesbury) – Munters Corp. was founded in 1955 and created the original desiccant dehumidification system. The company provides solutions for customers in industries where controlling temperature and humidity is essential in their production. Currently the company has a backlog in orders from customer demand. The company’s future site (also in Amesbury) will be 400,000 square feet, of which 50,000 square feet will be office space and its North American headquarters. It plans to create 70 new jobs, retain 292 jobs, and invest $38 million. The City of Amesbury will vote to approve a 15-year TIF valued at $5.2 million and the EACC Board has approved EDIP investment tax credits in the amount of $700,000.
88 Acres Foods, Inc. (Canton) – 88 Acres Foods, Inc. built a dedicated bakery in Dorchester in 2015 and launched its snack bar business free of the top nine most common food allergens. Today the company has national partnerships with Whole Foods, Walmart, JetBlue, Delta and others. Demand for the company’s products has outstripped manufacturing capacity and it has identified a 30,000-square-foot facility in Canton where it can move warehouse, production, and corporate teams under one roof. The space will need $3.2 million for fit-out expenses and close to $1 million for equipment. The company will create 200 new jobs while retaining 83 jobs. The Town of Canton has waived building permit fees of $18,000 and the EACC Board has approved EDIP investment tax credits in the amount of $2 million.
Feedback Earth, Inc. (Grafton) – Feedback Earth was founded by a team from MIT to provide a scale solution for food waste upcycling. The company built an original manufacturing plant that could take in 375 tons per day of food waste. Feedback’s facility uniquely de-packages and pasteurizes the waste to guarantee animal feed safety and it has successfully increased plant capacity to process 2,500 tons per month. This project involves constructing a 6,000-square-foot building adjacent to the existing facility that would enable for higher volumes of inbound food waste (7,500 tons/month) with additional truck docks and storage space. The project will create 45 new jobs and retain 15 employees with a private investment of $2.5 million. The Town of Grafton will vote on a five-year TIF valued at approximately over $28,000 and the EACC Board has approved EDIP investment tax credits in the amount of $450,000.
Alteros Energies, Inc. (Hopkinton) – Altaeros, spun out of MIT in 2010, is on a mission to make the world’s first autonomous aerostat, a lighter-than-air aircraft that gains its lift through the use of a buoyant gas. The company released its first autonomous aerostat in 2019 and has more than 35 patents to protect its unique technology. It plans to relocate R&D, manufacturing, and corporate headquarters from Somerville to Hopkinton. It will retrofit the 105,000-square-foot facility and fit out the industrial space for medium-to-heavy manufacturing; this includes internal structures, electrical, plumbing, HVAC, venting, purchase, and installation of equipment. The project will create 161 new jobs, retain 28 jobs, and represent a private investment of almost $24 million. The Town of Hopkinton will vote on a 14-year TIF and seven-year personal property exemption valued at a combined $3.1 million. The EACC Board has approved EDIP investment tax credits in the amount of $1.6 million.
New England Wire Products, Inc. (Leominster) – New England Wire Products is a manufacturer of custom retail displays, founded in 1980 in Leominster. Among its client base are some of America’s largest retailers: i.e., Home Depot, Walmart, Dollar General, Dollar Tree, and Target. The company is considering purchasing the building behind it, also in Leominster, to increase capacity. The new building needs extensive work to make it useable for manufacturing and to maximize efficiencies. Among the changes will be a 15,000-square-foot building expansion that connects to the existing facility. The company also plans to upgrade loading docks and invest in new equipment. This project will lead to the creation of 200 new jobs, the retention of 255 jobs, and represents an over $22 million private investment. The City of Leominster will vote to approve a five-year TIF valued at almost $100,000 and the EACC Board has approved EDIP investment tax credits in the amount of $875,000.
PI LP (Physik Instrumente) (Marlborough) – PI (Physik Instrumente) is a global leader in precision automation, motion control, nano-positioning, piezo motor, and piezo transducer technologies. The company has been in operation for over 50 years, in Germany and at an established U.S. headquarters in Massachusetts that has R&D, manufacturing, and technical support for customers. The company is considering purchasing a building in Marlborough and redeveloping it into its U.S. headquarters and manufacturing facilities, as its current facilities in Auburn and Hopkinton are capacity constrained. This project will create 40 new jobs, retain 55 jobs, and represent a $13 million private investment. The City of Marlborough has offered a 10-year TIF valued at over $200,000 and the EACC Board has approved EDIP investment tax credits in the amount of $400,000.
Local Incentive Only Projects
Art at the Nawn Factory (Boston) – The project will revitalize a blighted building in Boston’s Roxbury neighborhood and repurpose an abandoned building into an arts and cultural rehearsal space. The City of Boston released a Request for Proposals (RFP) for development (the municipal land valued at $682,100 was acquired for $200) and the project is expected to start construction in fall 2023, completing construction in winter 2025. Certified Project designation is required for the company to utilize the 10% Abandoned Building Renovation Deduction from the Commonwealth.
330 Jackson Street LLC (Lowell) – The Justice Center Parking Garage will be an eight-story, 541-space parking garage located directly adjacent to the Lowell Justice Center, a newly built facility in downtown Lowell that provides space for the Superior, District, Probate & Family, Juvenile, and Housing Courts of Middlesex County. The Justice Center Parking Garage will be a part of the Hamilton Canal Innovation District (HCID), an ongoing 2 million-square-foot development in downtown Lowell. The City of Lowell has approved a 10-year TIF valued at $800,000.
EyePoint Pharmaceuticals US, Inc. (Northbridge) – Founded in 1987, EyePoint Pharmaceuticals is a life sciences company headquartered in Watertown that develops and commercializes therapeutics to improve serious eye disorders. The company is seeking a location to establish a new, design-build 40,000-square-foot manufacturing facility to supplement its existing production, assembly, and packaging operations. The project will create 45 new jobs and represents a private investment of over $30 million. The Town of Northbridge has approved a 15-year TIF valued at $1.8 million.
Whalley Computer Associates, Inc. (Southwick) – Established in 1979 and incorporated in 1986, Whalley Computer Associates (WCA) remains a family-owned business in IT hardware, services, and support headquartered in Southwick, with additional facilities in Milford and Westfield. The company has seen strong growth and is considering building a new 70,000-square-foot to 80,000-square-foot facility for assembly, configuration, and warehousing. The project will create 15 new jobs and represents a private investment of $10.6 million. The Town of Southwick has approved a 10-year TIF estimate valued at $840,000.
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 represents a $475 million investment and will retain 100 jobs. The Town of Sutton plans to approve a 15-year TIF valued at approximately $39 million.
Vacant Storefront Projects
Glass Casket Tattoo (Webster) – The business goal is to open a private tattoo studio that will be a private, quiet, relaxing, professional, and welcoming space for all and to create custom one-of a-kind tattoos for those clients who book by appointment. The Town of Webster approved up to a $10,000 grant for reimbursement of capital expenses detailed in the application and the EACC Boardmatched the estimated amount of the capital expenditures as presented with $7,700 in refundable tax credits.
Wayback Burgers (Westborough) – The owner of a Wayback Burgers in Worcester plans to open a new franchise in a vacant storefront in downtown Westborough. The company is a fast casual franchise that specializes in classic burgers and new spins on old favorites and also offers other common comfort food like hot dogs, fried chicken, and flavored shakes. The Town of Westborough approved a $7,500 grant and the EACC Board matched it with $7,500 in refundable tax credits.