MassDevelopment

Governor Patrick Announces 100 New Jobs for Sutton Facility Expansion

July 30, 2009 : MassDevelopment Issues $10 Million in Bonds to Help Grow Atlas Box & Crating Company’s Worldwide Headquarters


Contacts:
Kyle Sullivan/Rebecca Deusser/Kim Haberlin, 617-725-4025
Cyndi Roy, ANF, 617-727-2040
Mark Sternman, MassDevelopment, 617-330-2034

SUTTON – Thursday, July 30, 2009 – Governor Deval Patrick today joined officials from Atlas Box and Crating Company and MassDevelopment to announce a company expansion that will result in 100 new jobs over the next two years, thanks in part to a $10 million loan approved by the Governor.

The $10 million in tax exempt bonds issued by MassDevelopment and approved by the Governor and Administration and Finance Secretary Leslie A. Kirwan will allow the company to construct a 226,923 square-foot manufacturing facility in Sutton. Bond proceeds will enable Atlas to create 100 new jobs and preserve 227 jobs that will be transferred to the project site, two contiguous land parcels that total more than 33 acres. Commonwealth National Bank of Worcester purchased the bonds.

“I congratulate the Atlas team on their planned expansion and am pleased that we are able to partner with the company to make this project happen,” said Govenror Patrick. “Manufacturing is an important component of our economy and the bond proceeds from this agreement will help Atlas grow and meet growing product demand from its customers around North America, while creating new jobs to put residents to work.”

In business since 1988, Atlas Box & Crating Company designs and manufactures packaging products, systems, and solutions for both basic industrial and high-technology product manufacturers and distributors. The packaging consists of engineered wood, foam, corrugated and plastic containers, and protective barriers for product storage and shipping needs. In addition to its main operating facility in Sutton, which also serves as its worldwide headquarters, the company also has operations in leased facilities in China and Ireland, and leases distribution facilities in New Jersey and North Carolina.

“We are pleased to partner with the Patrick Administration and Commonwealth National Bank to help Atlas Box grow in Massachusetts,” said Robert L. Culver, MassDevelopment President and CEO. “We have previously issued bonds to support Atlas Box’s capital projects and look forward to continuing to helping meet the growing demand for its topnotch products in the future.”

MassDevelopment, the state’s finance and development authority, works with businesses, financial institutions, and local officials to stimulate economic growth across the Commonwealth. During FY2008, MassDevelopment financed or managed 265 projects statewide representing an investment of more than $3 billion in the Massachusetts economy. These projects are supporting the creation of 4,001 housing units and more than 10,384 jobs: 5,424 permanent and 4,960 construction-related.