BDS News


From Tortillas to Transportation – Local Firm Saves Dozens of Local Companies More Than $10 Million


Business Development Strategies, Inc. celebrates its 3rd year helping companies navigate through government incentive programs

 



MEDWAY, MA - What do an auto part distributor, a tortilla manufacturer and a medical technology company all have in common? They are among the dozens of companies who have chosen to relocate or expand their operations in Massachusetts and in the process, saved upwards of $10 million on their state and local tax bills, thanks to the efforts of Medway-based Business Development Strategies, Inc.

Now in it its third year, the company was founded by Lynn Tokarczyk, a former regional director of the Massachusetts Office of Business Development and a senior manager for Ernst & Young, specializing in government incentives. Due to Tokarczyk's pro-business attitude and diplomatic negotiating skills, the firm has engaged many prestigious clients, including Samsonite, Autopart International, Innovative Spinal Technologies, and Barry Controls. In just three short years, Business Development Strategies has increased its size by tenfold.

Tokarczyk and her team have a dual mission: to help keep the Commonwealth’s economy strong and her clients financially healthy. Since 1993, over $10 billion in private investment has been infused into the state’s economy under the Massachusetts Economic Development Incentive Program. And although there are various financial incentives available from both state and local governments to help these growing companies expand or relocate, it’s often too time consuming for executives to find the right programs to fit their needs.

Business Development Strategies helps firms navigate through the confusing maze of state and local governments to access state investment tax credits, municipal property tax relief in the form of Tax Increment Financing (TIFs), workforce training grants, and other state and local programs designed to spur business investment and job creation.

“It’s extremely rewarding when I see the impact our work has not just for the company we are working with but within the community as a whole,” said Tokarczyk. “When one of our clients relocates to a new community, there’s a multiplier effect – the company and its employees spend hundreds of thousands of dollars each year with local vendors, suppliers and business establishments in that community.” This has a short and long-term positive economic impact to the town, region and the Commonwealth of Massachusetts.

Yet, many companies remain unaware of these programs and often miss out on savings that could reach half a million dollars, or more.

“It is complicated for companies to figure out the best financial resources and how to access them,” Tokarczyk said. Our primary goal is to help these companies access these programs and generate even more value for their investment dollars.”

Autopart International, Inc. offers a full line of parts for Foreign and Domestic nameplate cars and light trucks. The company was established in 1957 and recently began moving its headquarters from Sharon to Norton. The company plans to lease approximately 335,000 square feet of space in the old Polaroid building and will be offset by an estimated $400,000 the firm was able to secure in state and local tax incentives. This Massachusetts retention project will result in saving 250 full-time jobs and the creation of 85 new jobs. Not only will Autopart International bring new jobs and investment, they also expect to infuse over $2 million dollars annually into the Norton economy. Part of the team to sell the tax incentives package to the Norton Town Meeting was Ed Tartufo, Tri-Town Chamber of Commerce Board Member.

“Lynn is extremely knowledgeable, thorough and persistent in her work,” says Tartufo. “She leaves nothing to chance. She is always looking for unique ways to reach out to communities on behalf of these businesses,” he adds, “so that they understand how the new influx of revenue and jobs will benefit them.”

The Vice President of Autopart International, Leo Murphy, echoes the sentiment. “Lynn is a subject matter expert,” he says. “I think her prior experience at the state level really helped, because she knew which avenues to follow to expedite the process. Lynn did an incredible amount of research and far exceeded our expectations,” Murphy adds. “I just don’t have enough good things to say about her and her company.”

Innovative Spinal Technologies, Inc. is a medical technology company. Their products are designed to improve minimally invasive treatments for spinal disorders including fusion and motion preservation. The company plans to consolidate its operations from Texas and Colorado and lease an abandoned building at the Cabot Business Park in Mansfield. IST will be able to achieve this by saving an estimated $300,000 with Tokarczyk’s help. The savings will help this growing company with a planned $8 million building renovation that will create approximately 168 new full-time jobs with an estimated average salary of $90,000.

Mark Peters, the Chief Financial Officer of IST, says Tokarczyk’s strategic insights into the process proved invaluable, in light of the fact that he wasn’t aware of all the business development incentives available to new companies in the area. “Had I attempted to do this by myself, I don’t know how I would have done it,” says Peters. “Lynn really stayed on top of it all.”

Over the course of her career, Tokarczyk has assisted over 350 companies that have helped The Commonwealth of Massachusetts attract more than $3.5 billion in new private investment.

For more information, please contact Lynn at Business Development Strategies, Inc. at (508) 966-4300, by e-mail at lynn@businessdevelopment-strategies.com; or visit her website at www.businessdevelopment-strategies.com