602K Clams for Seafood Jobs

January 21, 2021

FOR IMMEDIATE RELEASE

Contacts:
Kelsey Schiller, MassDevelopment, 617-694-9695 (cell)
kschiller@massdevelopment.com

Christina Ferranti-Clift, East Coast Seafood, LLC, 978-561-3843
cferranti@myseafood.com

MassDevelopment has provided a $602,000 loan to East Coast Seafood, LLC, a seafood processor and distributor located at 10 North Front St. in New Bedford. East Coast Seafood will use loan proceeds to buy new scallop and lobster processing equipment, install updated technology to automate processes, increase packaging options, and adjust order logistics. Depending on market conditions and product demand, the project could create 80 jobs over the next year by helping the company fulfill new orders for various national retailers and improve its efficiency, product quality, and lead times on order shipments.

“This loan will help a Massachusetts seafood processing and distribution company, East Coast Seafood, LLC, grow jobs, get products to market more efficiently, and in turn help maintain the Commonwealth’s national and global leadership in the seafood industry,” said MassDevelopment President and CEO Dan Rivera. “East Coast Seafood, LLC is an integral part of our state and regional economy, and MassDevelopment is proud to provide loan financing to help the company continue its vital presence along the New Bedford waterfront.”

Established in 1981, East Coast Seafood, LLC is a processor and distributor of premium shellfish and value-added seafood products that operates worldwide with three processing facilities in the United States and Canada. Its New Bedford facility, located in a prime position on the waterfront port of New Bedford, offers direct access to the daily catch of scallops and lobsters.

“East Coast/Seatrade International continues to be an industry leader, driving innovation on many operational levels for our food service and retail club partners,” said Brad Hudson, CEO of East Coast Seafood, LLC. “We thank MassDevelopment for the strategic equipment loan, designated for our 66,000-square-foot state-of-the-art processing facility and one of the most efficient processing lines currently available in the industry. Advancements in seafood production and respective product benefits remain critical to our partners throughout the supply chain, and we’re evolving our operations to meet and exceed expectations.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth. During FY2020, MassDevelopment financed or managed 341 projects generating investment of more than $2.69 billion in the Massachusetts economy. These projects are estimated to create or support 10,871 jobs and build or preserve 1,787 housing units.