Issue link: https://nebusinessmedia.uberflip.com/i/1033550
Manufacturers can visit www.MAManufacturing.com for resources and tools they need to succeed. MassDevelopment plays a hands-on role supporting manufacturers of all types across the state, providing everything from innovative loans for growth initiatives to long-term financing for real estate projects to help manufacturers grow their businesses and stay competitive. • Equipment loans: On the North Shore, MassDevelopment provided a $225,000 equipment loan - and enhanced the loan with a guarantee - to Fleet Machine Company, an advanced manufacturing company in Gloucester. Fleet Machine used loan proceeds to buy a CNC horizontal machining center that will help the company increase production of components for the aerospace, defense, robotics, and medical industries. • Tax-exempt bond financing: In western Massachusetts, MassDevelopment used tax-exempt bond financing to support precision machine company Valley Steel Stamp throughout various stages of growth. In 2018, MassDevelopment issued a $1.9 million bond to help the company build a 17,500-square-foot expansion to its Greenfield headquarters. • Investment in ecosystem: MassDevelopment provided funding for the upcoming Berkshire Innovation Center (BIC), a 20,000-square-foot center at the William Stanley Business Park in Pittsfield. The BIC will offer shared access to technology, equipment, training, and more to help advance the manufacturing strength of western Massachusetts. • Financial support: In central Massachusetts, MassDevelopment worked closely with WGM Fabricators and its lender to secure a $7.8 million financing package, helping the company move into a state-of-the-art facility in Whitinsville and purchase some of the most technologically advanced equipment in the industry. In addition to offering innovative financing solutions, MassDevelopment plays an instrumental role in MAmanufacturing.com, connecting manufacturers with resources they need to grow in Massachusetts. MassDevelopment also launched the AMP it up! campaign to help middle and high school students learn about the many well-paying skilled manufacturing jobs available in the state. Providing financial resources and real estate solutions for manufacturers. Finicky Pet Food in New Bedford processes fish for the pet food industry. To reduce soaring electricity costs, the company worked with MassDevelopment on a financing package that enabled them to purchase and install solar panels. The investment in renewable energy has allowed the company to devote more resources to delivering high- quality products for its customers. StuffMadeinMA.com • 2 0 1 8 • S T U F F 11 S P O N S O R S M E S S A G E