BDS Guides Tax Incentives Process for Yale Appliance Real Estate Expansion

With the steady surge in the home improvements market, it’s no surprise that Yale Appliance (“Yale”), a leading home appliance retailer, has real estate expansion plans. This third-generation, family-owned business operates three showrooms in Boston, Framingham, and Hanover. Its longstanding commitment to superb, comprehensive customer service has earned Yale “Best of Boston” accolades from Boston Magazine and loyal customers alike.

“Knowing the familiar ‘brand’ name, town leaders were immediately interested in attracting Yale,” said Michael Yunits, Norton Town Manager. “We realized Yale’s plans to bring its corporate headquarters and construct a new building would be a big financial boon for the community. We are pleased that Town Meeting voted to approve the TIF and another family-owned business has decided to locate here.”

To keep pace with growing demand for its appliances, outdoor grills, and other products, Yale has decided to relocate its corporate headquarters and distribution center and expand to the Blue Star Business Park in Norton. The company also plans to add a retail showroom at this location.

As plans for this real estate expansion took shape and the project investment increased to nearly $19 million, Yale turned to Business Development Strategies, Inc. (“BDS”), the state’s leading government tax incentives consulting firm, to assist with securing tax incentives in the form of Tax Increment Financing (TIF).

Yale’s long history of community involvement and philanthropy in Massachusetts garnered TIF support by local officials. Norton residents felt it was important to turn out on a hot summer evening in August to attend a Special Town Meeting, where they overwhelmingly voted to approve the tax incentives. The Massachusetts Economic Assistance Coordinating Council followed suit one month later, making the TIF official.

“Lynn Tokarczyk and the BDS team are seasoned consultants. They were able to guide Yale through the incentives process and achieve substantial financial results,” said Steve Sheinkopf, President, Yale Appliance. “We look forward to being an integral part of the Norton community,” he said.