With the turn of a shovel, Analog Devices, Inc. (ADI), a leading global high-performance technology and manufacturing company headquartered in Massachusetts, is strengthening its commitment to keep and grow jobs in the Bay State. ADI has broken ground on an estimated 440,000 square feet of space consisting of office, research and development, a community hub and parking garage at its corporate campus in Wilmington. This location will also become its new worldwide corporate headquarters. ADI turned to Lynn Tokarczyk, Government Incentives Consultant with Business Development Strategies, Inc. (BDS), to assist with finding the right tax incentives for the $150 million project so all parties could benefit.
Over the last 15 years, the BDS team has helped companies in Massachusetts identify, negotiate and secure government tax incentives for real estate expansion projects that create and retain jobs and enhance the state and local economy.
“We were very fortunate to have such a seasoned team represent our incentives project and deliver a valuable result,” said Mike Errera, Analog Devices’ General Manager for the Wilmington/Chelmsford campuses.
“The Town of Wilmington is proud to partner with its largest manufacturing employer, Analog Devices, to facilitate expansion of their corporate campus here,” said Wilmington Town Manager Jeff Hull. “The local Tax Increment Financing under the state’s Economic Development Incentive Program (EDIP) will not only help Analog Devices expand and enhance its state-of-the-art corporate headquarters, it will also create additional employment options for residents and increase opportunities for local businesses.”
Tokarczyk was among the dignitaries on hand for ADI’s groundbreaking on July 11, 2018, and was recognized for her efforts to make the project a win-win proposition for ADI and the Town. “We are pleased with how the parties came together to leverage the tax incentive program and strengthen the local economy,” said Tokarczyk.