Mansfield Manufacturer To Create 20 Jobs With MassDevelopment Loan
March 25, 2011 : The New England Business Bulletin
MANSFIELD – MassDevelopment has provided a $500,000 loan through the Manufacturing Innovation Initiative to help Lacerta Group Inc., a Mansfield custom packaging manufacturer, grow its DVD business. A MassDevelopment guarantee also supports this loan.
Lacerta Group acquires and packages previously viewed DVDs to sell through various retailers at its location on Forbes Boulevard in Mansfield. As a result of this transaction, the company expects to create 20 jobs.
Founded in 1993, Lacerta manufactures custom packaging by the thermoforming method, which converts plastic sheeting into a wide variety of packaging for healthcare, electronics, food, and industrial products.
MassDevelopment previously issued a tax-exempt bond on the company’s behalf, to support the purchase and renovation of its current facility, and loans for manufacturing equipment.
The Patrick Administration announced the Manufacturing Innovation Initiative last year. The program makes real estate and equipment loans at reduced rates to manufacturers, as well as loans to help companies improve operations and pursue expansion opportunities.
Planning loans up to $50,000 and growth initiative loans up to $500,000 are available.
© Copyright 2011 South Coast Media Group.