MassDevelopment Bond Finances Jarvis Surgical Expansion in Westfield
July 6, 2016
FOR IMMEDIATE RELEASE
Meggie Quackenbush, MassDevelopment, 617-330-2011 (office) & 857-208-2777 (cell)
Jean Misorski, Jarvis Surgical, 413-719-1769
MassDevelopment has issued a $2.2 million bond on behalf of Bodacious LLC and Jarvis Surgical, Inc. to expand the Westfield company’s facility. Jarvis, a medical device manufacturer, is using bond proceeds to build a 15,000-square-foot addition on its existing facility and to buy new manufacturing equipment. The company will also use funds to buy 1.9 acres of land next to the property for employee parking. Easthampton Savings Bank purchased the bond.
“Manufacturing is a crucial part of the Massachusetts economy, and MassDevelopment is always pleased to support growth and innovation in that sector,” said MassDevelopment President and CEO Marty Jones. “This bond will allow Jarvis Surgical to add 24 jobs, update its equipment and expand its manufacturing operations, furthering boosting this vital industry.”
Jarvis Surgical was founded in 1901 when Charles Jarvis purchased the Ideal Manufacturing Company in Hartford, Conn., which produced nutcrackers and nutpicks. The company expanded its aerospace manufacturing capabilities in the 1940s and changed its name to Jarvis Airfoils, Inc. In 1993, a separate company, Jarvis Surgical Inc., was established in Westfield to manufacture precision titanium and cobalt chrome medical parts like shoulder, knee, hip and spine implants.
“We would like to thank MassDevelopment and the state of Massachusetts,” said Jarvis Surgical President Clayton Jarvis. “The Agency’s support of our continued growth will enable us to solidify our position in Westfield and the surrounding community for many years to come.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2015, MassDevelopment financed or managed 294 projects generating investment of more than $2.5 billion in the Massachusetts economy. These projects are projected to create about 6,100 jobs and build or rehabilitate about 2,000 residential units.