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Fabrico project awarded certification from the Massachusetts Office of Business Development |
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June 21, 2005 - The Massachusetts Office of Business Development’s Department of Business and Technology has awarded Certified Project Status to the Fabrico, Inc proposed development project. The certification signifies Fabrico and the town of Oxford’s efforts to promote increased business development. Senator Richard T. Moore (D-Uxbridge) believes the certification can have a positive impact on the economy of the town. “Gaining this important designation represents a cooperative effort between the town’s leaders and an important local business,” said Senator Moore. “It’s clear evidence that Oxford officials are working closely with local businesses, like Fabrico, to improve current and future economic conditions for their town and the region.” Upon receiving approval from the town, Fabrico applied for Certified Project Status through the Office of Business Development’s Economic Development Incentive Program (EDIP). As a result of the certification, the designated project is now eligible to receive and local real estate tax exemption agreed upon by the town as well as tax incentives from the state. Senator Moore’s colleagues were equally pleased with the certification noting its positive affect on the local economy. "Fabrico is an energized and growing company that has boosted and lifted the economy in central Massachusetts. The State of Massachusetts has acknowledged their worth and wants to help attract businesses to the area,” said Rep. Paul Kujawski (D-Webster). "This is business development evolving in Central Massachusetts. I have always upheld economic development as a high priority, and this is something with which I am proud to be involved,” said Rep. Mark Carron (D-Southbridge). “This is also a testament to the appealing environment of south central Massachusetts, and I would hope that this sets a precedent in the business community. This sends the message to businesses, 'We want you to grow, prosper and relocate here'." “I’m pleased that Fabrico will be staying in the town of Oxford and not moving to another state. This was a great effort of state and local officials who came together to keep this business, its employees, and its tax base here in Oxford, MA,” said Rep. Paul Frost (R-Auburn). The EDIP is designed to promote increased business development and expansion in Economic Target Areas (ETAs) and Economic Opportunity Areas (EOA). It is administered by the Economic Assistance Coordinating Council (EACC), which reviews and approves applications from municipalities seeking an ETA or EOA designation for specific areas within the town. The EACC believes that such designations help to attract businesses to the areas. The EACC approved Oxford’s application for a 20 year EOA designation for the Fabrico Street area, making the Fabrico project and future business ventures in the area, eligible for Certified Project Status. Fabrico, Inc. has committed to creating 50 new permanent full-time jobs. |
