Additional MassDevelopment Financing Helps Cox Engineering Company Expand Footprint in Randolph
July 20, 2020
FOR IMMEDIATE RELEASE
Kelsey Schiller, MassDevelopment, 617-694-9695 (cell)
Jonathan M. Desmond, Cox Engineering Company, 978-790-4555
|Cox Engineering Company’s new 37,500-square-foot manufacturing facility under construction in Randolph|
MassDevelopment has issued a $3,680,000 tax-exempt bond on behalf of Great Pond Land Partnership LLC, an affiliate of Cox Engineering Company, a Randolph company that offers a full line of HVAC products and services. Cox Engineering, which built its current manufacturing facility in 2017 using a $6.3 million tax-exempt bond from MassDevelopment, will use proceeds from this bond to build another 37,500-square-foot manufacturing facility at the same location to increase its production capabilities. Rockland Trust Company purchased the bond.
“We’re pleased to be a resource for manufacturers like Cox Engineering Company looking to grow their operations here in Massachusetts,” said MassDevelopment President and CEO Lauren Liss. “This expansion will enable Cox Engineering to increase its output and create jobs in greater Boston.”
Founded in 1914 by Christopher J. Cox, Cox Engineering Company has earned a reputation for doing whatever it takes to protect the financial health of a building, ensure the comfort of tenants, and exceed expectations. The company is organized into four divisions that encompass all facets of mechanical and HVAC system design: (1) Cox Engineering provides design, fabrication, and installation of both HVAC piping and sheet metal ductwork; (2) Cox Service provides HVAC mechanical services, which include preventive maintenance programs, testing services, and design build; (3) Custom Air Solutions provides custom-built air handling units, knock down systems, energy recovery systems, and equipment vestibules; and (4) Cambridgeport Air Systems provides design build engineering support and custom HVAC air management accessories like rooftop curbs, adapters and economizers. The systems designed by Cox Engineering Company can be found in hospitals and commercial, industrial, and biotech facilities.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth. During FY2019, MassDevelopment financed or managed 316 projects generating investment of more than $2 billion in the Massachusetts economy. These projects are estimated to create or support 9,743 jobs and build or preserve 1,992 housing units.