News Articles


Envelope company interested moving to Randolph site

By Fred Hanson
April 10, 2008

 

 

 RANDOLPH— An envelope company is looking to move into the Great Pond Commerce Center, provided it can get tax incentives for doing so.

Elite Envelope and Graphics of Braintree is looking at buying a 24,000-square-foot building on Pacella Park Drive. The building, which had been occupied by Serono Laboratories, has been empty for the past four years.

Company President David Theriault, a Randolph resident, said the 17-employee company has outgrown its present space a short distance away in Braintree.

“We really need a bigger space,” Theriault told selectmen Monday night.

The 2.3-acre site also allows for expansion, has a good labor pool, access to major highways and wouldn’t require its employees to relocate, he said.

“We can settle down and have a place to call home,” Theriault told the board.

Founded in 2003, Elite has annual sales of about $5 million and has been growing at a rate of 15 percent per year, he told the board.

The company is looking at relocation sites around New England and is seeking tax incentives before making a final decision.

“We need to be competitive,” said Theriault.

Lynn Tokarczyk of Business Development Strategies in Medway said a move to Randolph would be a $2.2 million investment for the company, between purchasing the property, improvements and buying new equipment.

The company would create at least five new jobs over the next five years at an average salary of $50,000, Tokarczyk said. It is seeking to move to its new space this fall.

The company is looking for a Special Tax Assessment for the project which would make it financially feasible, Tokarczyk said. The assessment is subject to negotiation, but could last between 4 and 20 years with the company paying no property taxes its first year in town.

The selectmen agreed to set up a committee to meet representatives of Elite to work out an agreement on tax incentives. Selectmen James Burgess and Paul Fernandes will serve on the committee along with Principal Assessor Richard Brown and Executive Secretary David Murphy.

The tax incentives require town meeting approval; both sides think a plan can be ready for a possible special town meeting held in conjunction with the annual town meeting.