BDS Guides SMC Ltd. with Securing Tax Incentives in Devens

When SMC, a privately-held contract manufacturer of medical devices, needed to expand to a new facility in Devens in 2014 it chose Lynn Tokarczyk and the team at Business Development Strategies, Inc. (BDS) to help guide them through the government tax incentives process. The company manufactures healthcare products serving the diagnostic, drug delivery, and surgical/procedural markets. As demand for SMC’s products and services continued to rise, the Company realized a second expansion was needed. Earlier this year, SMC turned to the BDS team once again for tax incentives assistance to construct an estimated 207,000 square foot building for its manufacturing and warehouse operations in Devens.


“Key factors such as job creation and investment are considered when offering a company a local tax incentive,” said Jessica Strunkin, MassDevelopment’s Executive Vice President of Devens. “SMC’s proven track record as a great corporate citizen in our community gave Devens confidence in delivering economic assistance. This is an exciting opportunity for Devens to further establish itself as a premiere business hub in Central Massachusetts while also helping a global manufacturer continue to create jobs and expand in our community.”

Rotating seamlessly from in-person meetings to online Zoom discussions during the pandemic, the BDS team helped with securing tax incentives in the form of Tax Increment Financing (TIF) and gaining necessary approvals from MassDevelopment and the Massachusetts Economic Assistance Coordinating Council. The incentives package would help the Company almost double its space in Devens and offset surging construction and labor costs partly caused by the global pandemic.

SMC will be able to retain 412 jobs, add 100 jobs, invest an estimated $41 million in the community, and maintain its place as a leading medical device manufacturer in Devens. An active and engaged community partner, SMC will continue to support local charitable, educational, and community programs.

“BDS has provided SMC with an essential tax incentives roadmap,” said Brian Payson, SMC Vice President and General Manager. “Having BDS in our corner for a second time was invaluable in helping to guide us and keep us on track to meeting our corporate deadlines.”

“The continued strength of manufacturing in Massachusetts has been essential to maintaining a healthy economy,” stated John Regan, President & CEO, Associated Industries of Massachusetts (AIM). “SMC’s proposed expansion and investment in Devens will help reinforce the Commonwealth’s reputation as a global life sciences leader.”