AIS Investigates Move From Hudson To Leominster
Hudson-based AIS is contemplating a move to a long-vacant building at 25 Tucker Dr. in Leominster pending approval from the state of a multimillion dollar support package.
AIS (which stands for Affordable Interior Systems) received approval from the Leominster City Council last night for a 13-year tax exemption totaling $929,419, according to a report from the Worcester Telegram & Gazette.
AIS is also seeking a mix of state grants and tax credits that would defray up to 40 percent of the $13 million it will cost the company to move and expand, according to Bruce Platzman, president, CEO and co-founder of AIS.
Specifically, AIS is seeking investment tax credits as well as workforce training grants from the state.
AIS, which was founded in 1990, has 235 employees and plans to hire another 126 after it moves to Leominster, Platzman said.
The move is being fueled by "exponential growth" at the firm, which makes office furniture systems, according to Platzman. He said the company's revenue grew by 45 percent for the most recent fiscal year, while "bottom line" growth was up 68 percent. AIS's customers include large Fortune 500 companies like Nike, as well as smaller, one- or two-person firms. The company also does a fair amount of government contracting that has brought the firm overseas work in places like Kuwait, Iraq and Dubai.
The Leominster building totals 572,272 square feet and is large enough to help AIS consolidate its business, which includes 185 factory workers, into one facility.
Platzman said that he evaluated a variety of sites inside and outside of Massachusetts.
"I was born here and went to school here, but I do have a fiduciary responsibility to investigate all the options that are out there," he said.
If the state approves the tax credits and grants in June as expected, Platzman said the company could begin moving as soon as this summer. The entire move should to take 18 months.
"It's an exciting time," Platzman said. "The company is doing extremely well in a tough economic climate."
Read a profile of AIS, which has been a long-time member of the Worcester Business Journal's Top Growth Companies list.
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