Cox Engineering will soon be expanding and relocating its operations to Randolph after engaging in an extensive site search to accommodate its growing manufacturing operations. The Business Development Strategies, Inc. (BDS) team, led by President Lynn Tokarczyk, assisted in securing a tax incentive package for the Company in exchange for its $9 million capital investment.
“Cox Engineering is exactly the type of business we are proud to host in Randolph,” says Town Manager David Murphy. “This family-owned, American manufacturing company provides good-paying jobs and offers career advancement opportunities. We took advantage of the resources available to us to help make our town an attractive investment destination and look forward to a mutually beneficial relationship with Cox Engineering.”
A Massachusetts Success Story
Founded in 1914 and headquartered in Canton, Massachusetts, Cox Engineering is a third-generation family-owned manufacturer of large air handling units, HVAC piping and sheet metal ductwork. For more than 100 years, Cox Engineering has served a wide range of sectors including, hospitals, life science companies, universities, restaurants and the hospitality industry. Cox Engineering provides its products to many customers, among them Gillette Stadium, Seaport Hotel, Harvard University, Dana Farber Cancer Institute, and others.
Responding to Growing Demand
Cox Engineering decided to expand its office and manufacturing operations in Massachusetts due to increased customer demand for its products and services. The Company conducted a real estate site search and identified a vacant 70,000 square foot property on Pacella Park Drive in Randolph with the capacity for future expansion.
The Company’s investment includes the purchase of the building, renovation costs and machinery. BDS assisted in securing a Special Tax Assessment (STA) to help reduce the Company’s current and future real estate taxes over a six-year period. Cox Engineering plans to retain 140 full-time jobs, create 20 new jobs and revitalize a vacant building in Randolph.
A Real Team Effort
“Lynn and the BDS team worked diligently with Randolph officials and the state to help us navigate and access these substantial tax incentives,” states Cox Engineering CEO Jon Desmond. “The savings will enable us to expand, invest in high-skill and high-wage new manufacturing jobs and pave a path for our future.”
“The Town of Randolph is incredibly pro-business and embraced the benefits of helping to secure a new home for Cox Engineering,” notes BDS President Lynn Tokarczyk.
Fueling the Commonwealth’s Economic Engine
Cox Engineering expects to complete renovations and relocate its operations by the end of this year. The Company is one of more than 100 businesses in Massachusetts, including TripAdvisor, Keurig, Potpourri Group, MACOM, Moderna Therapeutics, New England Ice Cream, and ’47 that have expanded their operations and realized tax savings with the assistance of BDS since the consulting company’s 2003 founding. Over the past 14 years, BDS’ clients have made more than $1 billion in private investments and realized more than $100 million in collective tax savings.
In turn, these companies continue to keep the Massachusetts economic engine humming by creating and retaining jobs and investing in their local communities.