The Massachusetts Economic Assistance Coordinating Council (EACC) has approved the expansion plans of EasyPak in Leominster, US.
The EACC approved the EasyPak's expansion along with 18 other projects under the Economic Development Incentive Program (EDIP).
The EDIP helps in creating job opportunities and private investment in the state.
Established in 2004 at Leominster, EasyPak specializes in manufacturing thermoformed plastic packaging products. It currently operates from its 20,800ft2 facility and is outsourcing about 15% of its production to meet the demand.
As a part of its expansion plans, EasyPak is planning to invest $7.5m and add around 20,000ft2 to its current facility. It will also invest in purchasing machinery and equipment.
The project is getting support from the City of Leominster with a five-year $330,966 tax increment financing and personal property tax exemption agreement. The EACC has approved $262,500 in EDIP Investment Tax Credits.
Massachusetts Office of Business Development executive director Michael Hunter said: "Supporting companies that are choosing to grow in Massachusetts is an important part and one of the administration's key economic development objectives to create economic opportunity in every region of the Commonwealth.
"These investments will help these companies expand and continue to enhance the Massachusetts economy by making our communities stronger in the long term."
Image: EasyPak specializes in manufacturing thermoformed plastic packaging products. Photo: courtesy of Ambro / Freedigitalphotos.net.
