Plenus Group is a family-owned maker of soups, sauces, and gourmet frozen foods. When the company needed more space, MassDevelopment helped them buy, renovate, and expand their leased site in Lowell.
We issued a $4.6 million tax-exempt bond, purchased by Middlesex Savings Bank, on behalf of Plenus Group and enhanced that financing with both mortgage and export guarantees. The funds also allowed the company to build a 16,195-square-foot addition, buy critical new manufacturing equipment, and create jobs.
MassDevelopment is proud to support the Commonwealth’s manufacturing industry. In Lowell, growing companies like Plenus Group are providing jobs, stimulating business activity, and driving a healthier economy for all.