MassDevelopment

Success Stories by Industry

Businesses

Bridgemedica, LLC

Bridgemedica, a medical device engineering and manufacturing firm in Mansfield, needed help financing a new clean room and updated equipment.
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Built-Rite Tool and Die, Co.

Financing from MassDevelopment helped Built-Rite Tool and Die add 5,000 square feet to its manufacturing facility in Lancaster.
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Devens Recycling Center, LLC

With the proceeds from a tax-exempt bond, Devens Recycling Center built a 90,000-square-foot waste recycling facility and transfer station.
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Gloucester Marine Railway

Gloucester Marine Railway is the oldest continuously operating shipyard in the country. An integral part of the city’s fishing industry, it needed funding to modernize a pier essential to its operations.
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Nokode Holdings

A predevelopment loan to Nokode Holdings for architectural and engineering studies led to a mill renovation in Lowell.
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N12 Technologies

N12 Technologies produces carbon nanotubes, an advanced material used in aerospace, automobiles, and sporting goods.
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PowerHouse Dynamics

Powerhouse Dynamics develops energy management systems for small businesses and homes.
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Developers

City Place

A loan from MassDevelopment helped this developer complete his project and create jobs in a recovering community.
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Riverwalk Properties

With help from MassDevelopment, Riverwalk properties provided a space for new tenants who are helping revitalize the city of Lawrence.
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Station Lofts, Brockton

Capstone Communities needed financing to transform a historic industrial building near an MBTA commuter rail stop into residential loft space in downtown Brockton.
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The Beacon Companies

The Charles R. Wilbur School, located in Sharon, was vacant for nearly 30 years before funding allowed the Beacon Companies to transform the old school into rental apartments, 15 of which are designated affordable.
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Village Hill Northampton

MassDevelopment continues to oversee the development of Village Hill Northampton, a 126-acre master-planned community based on New Urbanist principles.
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Worcester T&G Building

The historic Telegram & Gazette building is now home to Quinsigamond Community College, where students prepare for the future and spur economic development in the heart of downtown Worcester.
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Housing

Amesbury, Lynn and Lowell

New housing units were needed in Amesbury, Lynn, and Lowell. MassDevelopment had both the financing and real estate expertise to construct and convert buildings into 114 housing units.
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City Place

A loan from MassDevelopment helped this developer complete his project and create jobs in a recovering community.
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Dudley Greenville LLC

MassDevelopment issued a $9 million tax-exempt bond on behalf of Dudley Greenville LLC, green-lighting a project to build affordable, multifamily housing in Roxbury’s Dudley Square.
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South Boston Veterans Housing

MassDevelopment provided $414,000 from the Brownfields Redevelopment Fund to the South Boston Veterans Housing, LLC.
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Taunton Housing Authority

Through a partnership with MassDevelopment, Taunton Housing Authority was able to build a 72-unit affordable housing facility in place of a public housing development.
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The Beacon Companies

The Charles R. Wilbur School, located in Sharon, was vacant for nearly 30 years before funding allowed the Beacon Companies to transform the old school into rental apartments, 15 of which are designated affordable.
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Manufacturers

Cumar

Cumar is one of New England’s leading manufacturers of fine architectural stone. The company wanted to expand its Everett manufacturing facility but lacked adequate resources.
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Fancypants Baking Company

Fancypants Bakery makes specialized cookies for clients like Whole Foods and SuperTarget. To take advantage of exploding demand, the company needed a larger space and new equipment.
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GTR Manufacturing

With two equipment loans, Brockton based GTR Manufacturing was able to purchase a new punch press, which helped them increase production efficiency and reduce material waste.
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LTI Smart Glass

Proceeds from a $5,000,000 tax-exempt industrial development bond helped LTI Smart Glass buy and renovate a vacant manufacturing building in Pittsfield.
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Pearlmeat, LLC

With assistance from MassDevelopment, wholesale meat producer Pearlmeat opened a new manufacturing plant in Brockton, greatly expanding and improving the company’s operating capability.
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Pro Pel Plastech, Inc.

Providing recycled plastic for plastics manufacturers throughout New England, Pro Pel needed a loan to install a solar panel system on the roof of its manufacturing facility.
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Southbridge Associates, LLC

Southbridge Associates owns the Southbridge Business Center and needed funds to refurbish a building for a growing tenant.
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Municipalities

Amesbury, Lynn and Lowell

New housing units were needed in Amesbury, Lynn, and Lowell. MassDevelopment had both the financing and real estate expertise to construct and convert buildings into 114 housing units.
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Brockton Area Multi-Services, Inc.

Brockton Area Multi-Services, Inc. needed to upgrade its electronic health record systems. MassDevelopment was there to help finance it.
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City of Chicopee

Chicopee officials engaged MassDevelpoment to assist in the redevelopment of the abandoned Facemate and Uniroyal sites.
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City of New Bedford

MassDevelopment partnered with New Bedford to produce a baseline economic assessment and strategic development plan for the city’s downtown.
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City Place

A loan from MassDevelopment helped this developer complete his project and create jobs in a recovering community.
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The College of Our Lady of the Elms

The College needed funds to build a 22,000-square-foot facility, renovate an administrative building, and refinance an existing bond.
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Community Rowing, Inc.

Through our Capital Financing 501 program, this community outreach and rowing advocacy group received a tax-exempt bond to help construct a new boathouse on the Charles River.
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Cumar

Cumar is one of New England’s leading manufacturers of fine architectural stone. The company wanted to expand its Everett manufacturing facility but lacked adequate resources.
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Dudley Greenville LLC

MassDevelopment issued a $9 million tax-exempt bond on behalf of Dudley Greenville LLC, green-lighting a project to build affordable, multifamily housing in Roxbury’s Dudley Square.
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The Greater Boston Food Bank

Using a tax-exempt bond, The Greater Boston Food Bank was able to acquire land and construct a new facility to enhance its operations.
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GTR Manufacturing

With two equipment loans, Brockton based GTR Manufacturing was able to purchase a new punch press, which helped them increase production efficiency and reduce material waste.
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High Point Treatment Center

High Point, the largest provider of addiction and mental health treatment in Massachusetts, needed funding to acquire and renovate a 60,000-square-foot facility on a site that had been vacant for more than one decade.
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LTI Smart Glass

Proceeds from a $5,000,000 tax-exempt industrial development bond helped LTI Smart Glass buy and renovate a vacant manufacturing building in Pittsfield.
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Nokode Holdings

A predevelopment loan to Nokode Holdings for architectural and engineering studies led to a mill renovation in Lowell.
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Pearlmeat, LLC

With assistance from MassDevelopment, wholesale meat producer Pearlmeat opened a new manufacturing plant in Brockton, greatly expanding and improving the company’s operating capability.
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Riverwalk Properties

With help from MassDevelopment, Riverwalk properties provided a space for new tenants who are helping revitalize the city of Lawrence.
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Station Lofts, Brockton

Capstone Communities needed financing to transform a historic industrial building near an MBTA commuter rail stop into residential loft space in downtown Brockton.
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Taunton Housing Authority

Through a partnership with MassDevelopment, Taunton Housing Authority was able to build a 72-unit affordable housing facility in place of a public housing development.
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Town of Andover

MassDevelopment provided Andover with a market analysis and conceptual plans for the reuse of the Town Yard, a municipally-owned site.
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Town of Littleton

MassDevelopment helped the town figure out how an influx of workers and the build-out of a major corporation would impact the local traffic.
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Village Hill Northampton

MassDevelopment continues to oversee the development of Village Hill Northampton, a 126-acre master-planned community based on New Urbanist principles.
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Worcester T&G Building

The historic Telegram & Gazette building is now home to Quinsigamond Community College, where students prepare for the future and spur economic development in the heart of downtown Worcester.
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Nonprofits

Baystate Health

In two separate transactions, MassDevelopment issued $77.115 million in tax-exempt bonds to Baystate Medical Center (BMC) and Baystate Franklin Medical Center (BFMC)—affiliates of not-for-profit health care provider Baystate Health in Springfield. Combined, the projects are expected to support 395 construction jobs.
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Brockton Area Multi-Services, Inc.

Brockton Area Multi-Services, Inc. needed to upgrade its electronic health record systems. MassDevelopment was there to help finance it.
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The College of Our Lady of the Elms

The College needed funds to build a 22,000-square-foot facility, renovate an administrative building, and refinance an existing bond.
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Community Rowing, Inc.

Through our Capital Financing 501 program, this community outreach and rowing advocacy group received a tax-exempt bond to help construct a new boathouse on the Charles River.
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The Greater Boston Food Bank

Using a tax-exempt bond, The Greater Boston Food Bank was able to acquire land and construct a new facility to enhance its operations.
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High Point Treatment Center

High Point, the largest provider of addiction and mental health treatment in Massachusetts, needed funding to acquire and renovate a 60,000-square-foot facility on a site that had been vacant for more than one decade.
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Holyoke Community Charter School

With assistance from MassDevelopment, Holyoke Community Charter School was able to refinance, consolidate and pay-off existing debt.
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Merrimack Valley YMCA, Inc.

MassDevelopment helped the Merrimack Valley YMCA double the size of its Andover facility for new health programs and equipment.
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Sturgis Charter Public School

Ranked #1 in the state, Sturgis Charter Public School needed financing to build a second facility to meet growing student demand but could not get more help from its bank alone.
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The Home for Little Wanderers

The Home for Little Wanderers offers vital services to help vulnerable families and children and needed a low-cost way to expand its campus in Walpole, fund new programs, and hire new teachers.
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