International Grocery Retailer Secures Tax Incentives with Assistance From Business Development Strategies
Are you craving ethnic foods that the typical grocery store might not carry? From green plantains and dragon fruit to boniato sweet potatoes and Portuguese chestnuts, chances are you’ll find what you need at Seabra Foods.
Founded in 1967 by Américo and Maria Seabra, two recent immigrants from Portugal, this family-owned, international grocery retailer has 16 store locations in Massachusetts and three other states. Seabra specializes in items from countries including Portugal, Brazil, Ecuador, Peru, Mexico and Spain. In addition to fresh produce, the stores offer an extensive selection of fresh breads, meats, seafood, health and beauty items, and kitchen accessories.
Seabra currently leases and occupies a property in Framingham. Due to increased customer demand, the company has purchased a building in Framingham to relocate and expand their operations. For assistance with securing Tax Increment Financing (TIF), they turned to one of the top government tax incentives consulting firms in Massachusetts: Business Development Strategies, Inc. (BDS), led by Lynn Tokarczyk and the BDS team of subject matter specialists.
In meetings with City officials, BDS emphasized Seabra’s economic impact on the community and the numerous benefits of granting the TIF, such as job retention and creation as well as increased tax revenue.
The combination of BDS’s expertise, Seabra’s superb reputation and a pro-business City led Framingham City Council to approve a substantial TIF package in July. The Massachusetts Economic Assistance Coordinating Council followed suit last month.
“The BDS team are seasoned consultants who paved the way to achieve outstanding financial results,” said Carlos Monterio, Seabra Corporate Counsel. “We were impressed with their connections with Framingham officials and are grateful for the City’s support.”
“City leaders were immediately interested in keeping Seabra in Framingham,” according to Mayor Charlie Sisitsky. “We realized their plans to purchase and revitalize an underutilized property would be a big financial boom for the City and create a larger and more modern shopping destination,” he stated. “I am pleased the City Council unanimously voted to approve the TIF and Seabra has decided to make this significant investment in Framingham.”