Three Methuen companies, including a former Haverhill-based firm, last week won approval of state tax credits in anticipation of retaining and adding new jobs.
The Commonwealth’s Economic Assistance Coordinating Council (EACC) approved 13 projects statewide for participation in the Economic Development Incentive Program (EDIP), including New England Die Cutting, Jessica’s Brick Oven and Globus Medical.
“Economic development incentive funding helps companies across Massachusetts realize growth and expansion opportunities that drive statewide economic growth,” said Governor Charlie Baker. “Expansion and hiring incentives are a cost-effective part of our push to make Massachusetts business friendly, and to catalyze significant, sustained economic growth across the commonwealth.”
New England Die Cutting, owned by Kim and David Abare, was founded in 1982 and recently left Haverhill for Methuen. The company provides gaskets and seals to the military and medical industries. By moving the business to a state-of-the-art 101,000 square-foot plant in Methuen, they will be able to expand by 15 percent annually. The company will add 13 new employees and retain 31 existing employees and make a private investment of $5.4 million. The city of Methuen awarded the company tax credits valued at approximately $98,000.
Jessica’s Brick Oven is a wholesale bakery that serves retail supermarkets, big box stores, food service companies and local gourmet shops and restaurants. The company was established in 1997 and purchased by the current owner in 2008.The company plans to purchase the former General Mills/Yoplait Columbo factory, hire 25 new employees and retain 120 current workers. They anticipate making an investment of $10.5 million. Methuen has approved a 10-year TIF valued at approximately $105,000. EACC approved $375,000 in investment tax credits.
Globus Medical is a medical device company focused on products that promote healing in patients with musculoskeletal disorders. Globus has recently acquired property to be renovated to serve its research and development, manufacturing and distribution needs. The new facility will house the company’s Robotics, Imaging and Navigation Division, which is currently working on the development of a surgical robotic positioning system. This project will create 20 new job, retain 26 existing and make a private investment of $8.7 million. T Methuen approved a TIF of approximately $206,000.
EACC has approved 42 economic development projects since January. These projects are expected to create 2,321 jobs, retain 3,416 existing jobs and leverage $548 million in private investment. This year, EACC assisted 22 manufacturing companies and 19 companies in Gateway Cities.
“Investing in businesses across Massachusetts as they expand helps create job opportunities for hardworking residents while growing the state economy,” said Housing and Economic Development Secretary Jay Ash. “We remain dedicated to supporting communities and businesses across Massachusetts as they grow and prosper.”
“Housing and Economic Development Secretary Jay Ash. “We remain dedicated to supporting communities and businesses across Massachusetts as they grow and prosper.” –
The way this is done is by taking the fruits of your labor and giving it someone else. The promise to deliver is never followed up of course and it never benefits the lower income classes, which in the case of Massachusetts, is one of the most income disparate states in the country along with one of the smallest middle classes in the country. Go figure?
All brought to you by the crony capitalism of Beacon Hill, where nothing gets done unless you get the powers that be tacit approval, usually by bribe monies by way of campaign donations. Of course the irony here is Jay Ash, who Democrats champion as turning around Chelsea, during that time, Chelsea’s crony, now imprisoned Housing Authority Director Michael E. McLaughlin, has a nice history of corruption, including mob ties. Of course Ash can claim ignorance because the entity is separate, but why ask any questions of a long time Beacon Hill acolyte who was notorious for doing “favors”?
Big business here is having your own lobbyist or “government affairs” person to smooth things over to get what you want. To do that, you need a nice checkbook and maybe someone like Bill Kass’s Suffolk Group to make sure the deed gets done, just to make sure the right palms get greased. Of course locally here in Haverhill, if you run a business like Southwick’s and don’t get your TIF or some other break, you threaten to just leave, pretty good leverage to get what you want…at TAXPAYERS expense in a toxic state for doing business. So even if you pay bad wages and benefits, never deliver on your promise, you still get your economic heroin to say you kept jobs or brought (bad) jobs in.
“Free markets” indeed.