BDS News

Medical Device Manufacturer Secures Prescription for Growth

When it comes to negotiating government incentives for growing businesses in Massachusetts, Business Development Strategies, Inc., (BDS) is an industry pacesetter.

The 11-year-old company, founded by government incentives consultant Lynn Tokarczyk, continues to be a leader in assisting publicly-held and privately-owned businesses cut through governmental red tape and secure incentives to support real estate expansion and job growth.

Since BDS's founding in 2003, the company has assisted more than 100 businesses across Massachusetts in saving more than $60 million in state and local taxes while investing an estimated $700 million in local cities and towns, creating close to 5,000 new jobs, and retaining more than 10,000 jobs.

Medical Device Manufacturer Secures Incentives

One of BDS's recent successes includes the privately-held, global manufacturer and leader in medical device development, SMC LTD., ("SMC"). Headquartered in Wisconsin with its Eastern US manufacturing operations spread out over three locations in Sterling and Leominster, Massachusetts, SMC needed to consolidate its Bay State operations to one facility in order to respond more efficiently to growing demand for its high quality products.

Guided by real estate advisor, CBRE/New England Vice President Robert D. Gibson, Jr., the Company identified a new location at an existing building in nearby Devens that would fulfill its needs. SMC began moving forward with plans to secure an estimated 200,000 square feet of space at the site.

SMC anticipates an investment of approximately $14 million for the development of a state-of-the-art facility for R&D, advanced manufacturing, and support infrastructure. SMC plans to retain 312 full-time jobs and create an additional 100 new, permanent full-time jobs.

"This was a situation where the Company needed to consolidate and relocate in order to remain a global leader in a highly competitive industry," explains Tokarczyk. "A substantial incentives package was essential for SMC to move forward with its plan. BDS assisted with identifying and negotiating the Tax Increment Financing (TIF) package for SMC and working with the Company and Devens officials to secure a package of incentives that satisfied the needs of both parties."

"It is clear we would not have secured significant incentives without BDS's guidance and strategic planning. Their attention to detail and ability to navigate the political process was excellent," stated SMC Vice President and General Manager, Brian Payson.

The SMC expansion project would enable Devens to gain a well- respected medical device manufacturer as a member of its business community, says Devens Executive Vice President of Operations, George Ramirez. "This project would bring significant economic benefits, including new tax revenue and a skilled workforce, to our community."