Worcester Business Journal

10 Worcester Business Journal | April 1, 2019 | wbjournal.com W hen Olympus Corp. was scouting loca- tions to consolidate and grow its Greater Boston operations, it landed on a prominent site in West- borough, with visibility and easy access from Route 9 and I-495 and a location in a group of offices including the headquarters of BJ's Wholesale Club. "We all kind of fell in love with the plot of land we selected," said Amy Les- lie, the executive director for corporate strategy management for Olympus. Olympus, which makes medical technology in addition to its con- sumer-facing cameras business, was attracted to Westborough's heralded school district and commuter rail stop, Leslie said. A tax-incentive agreement from the town helped, too, with Westborough agreeing to a tax-increment financing deal estimated to save the company $774,000 on its tax bills. e company plans to begin work in June on the new building, which will accommodate workers being shied from Littleton and Southborough. Olympus was one of three firms aided for new MetroWest locations by local tax-increment financing agree- ments approved by the state in March. Medical device company Candela and gene therapy maker Lykan Bioscience were also approved for deals aimed at encouraging relocation or expansion by giving companies a tax discount on increased values of the properties through tax-increment financing deals, or TIFs. Marlborough, Hopkinton deals Candela will move its headquarters from Maynard to Marlborough thanks in part to a TIF from Marlborough valued at nearly $280,000 and state Economic Development Incentive Program investment tax credits of $500,000. Candela, which rebranded this year from Syneron Candela, plans to move 200 office and research and develop- ment employees and hire another 100, according to the Mass. Executive Office of Housing & Economic Development. Candela is set to occupy 50,000 square feet of a 160,000 square-foot building at 251 Locke Drive le vacant aer telecommunications firm Verizon moved out. e Massachusetts Economic Assistance Coordinating Council also approved a 10-year TIF from Hopkin- ton for Lykan Bioscience. e company, which was founded in 2017 and based in Phoenix, will lease and renovate a 63,000-square-foot warehouse and create a new manufac- turing facility as part of a $12-million investment. e company is expected to create 125 jobs there. Hopkinton's deal with Lykan is the second time the town has given finan- cial assistance to help occupy 97 South BY GRANT WELKER Worcester Business Journal News Editor Candela Marlborough 7 years $278,598* 300 $5 million Lykan Bioscience Hopkinton 10 years $416,788 125 $12 million Olympus Corp. Westborough 10 years $773,710 500 $22 million Tax-break Estimated Job Company Company Community length company savings commitment investment *Plus $500,000 in state tax credits Source: Massachusetts Executive Office of Housing and Economic Development The deals Amy Leslie of Olympus says the company was attracted to Westborough for its geo- graphic location and strong school district. Westborough, Marlborough & Hopkinton are due to receive three major biotech employers following state approval of tax breaks MetroWest moves Olympus is planning a 150,000 square-foot facility in Westborough to consolidate operations from Littleton and Southborough.

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