Issue link: https://nebusinessmedia.uberflip.com/i/989645
wbjournal.com | Book of Lists 2018 | Worcester Business Journal 73 S P O N S O R E D B Y Biomedical companies ..................................74 Clean energy companies ...............................77 Manufacturers ..............................................78 MANUFACTURING & TECHNOLOGY W ith MassDevelopment's help, WGM Fabricators has transformed itself from a small family- owned business into a national player in the custom architectural glass industry. Since its founding as Woonsocket Glass & Mirror in Woonsocket, R.I., in 1946, the company has grown from a small retail shop to WGM Fabricators, with a name change highlighting its expanding base. Earlier this year, the business changed its moniker once again to WOON-TECH, reflecting the high degree of tech- nology it now brings to custom glass fabrication. MassDevelopment worked with the company and its lender, the Bank of Rhode Island, to help secure a creative financing solution that facilitated this com- pany growth and its expansion into Massachusetts. Using a $7.8 million financing package from MassDevelopment, in partnership with the bank, the company moved to a new state-of-the-art facility in Whitinsville in 2015. This financing package included a $5 million tax-exempt bond, which MassDevelopment issued at a below-market interest rate, and $2.8 million in term financing, which MassDevelopment supported with loan guarantees. As a result, WGM was able to purchase some of the industry's most technologically advanced equipment and improve its access to working capital, accommo- dating the growth in new business that came with the company's relocation into the Blackstone Valley. Since 2015, WGM has created more than 30 manufacturing jobs in central Massachusetts, bringing its total employment in Whitinsville to approximately 70 people. Today, WOON-TECH continues to innovate and expand its product offerings and applications thanks to its unique Dip-Tech Digital Ceramic In-Glass Printing, which provides custom-made architectural glass to the corporate, educational, health, hospitality, residential, retail and construction industries. It's clear to see the benefits of this advanced manufactur- ing company growing in Massachusetts. n MassDevelopment Supports Expansion of Tech Company into MA Woon-Tech's custom-made architectural glass.