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Helfrich Boiler Works to expand, create new jobs with $6.32M bond

Success Story

MassDevelopment issued a $6.3 million tax-exempt bond to help Helfrich Brothers Boiler Works, Inc. buy and renovate a vacant 41,000-square-foot building at 43 Merrimack St. in Lawrence, located next to the company’s existing 100,000-square-foot headquarters, to create additional space for its advanced manufacturing business that includes a state-of-the-art robotic welding system. Bond proceeds are also being used to buy new equipment and machinery. The company expects to create 75 new full-time jobs over the next three years. Brookline Bank purchased the bond, which helped Helfrich Brothers Boiler Works, Inc. achieve a lower cost of capital.