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The former Fitchburg Gas & Electric Light building on Main Street in Fitchburg
September 17, 2020
Leominster manufacturer's $3M expansion approved for $80K tax break
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Girouard Tool Corp. in Leominster
Girouard Tool Corp., a Leominster injection molding company, was approved Thursday by the state for tax breaks to help make possible a $2.8-million expansion.
Girouard Tool was approved by the Massachusetts Economic Assistance Coordinating Council for a $50,000 investment tax credit, while the City of Leominster plans to approve a five-year tax increment financing agreement expected to save the company roughly $32,000.
The company, which works with the medical, technical and packaging industries, has bought a 14,000-square-foot facility in Leominster for the expansion, according to the state. It expects to invest $2.8 million, retain 11 jobs and create five new ones.
Separately, the Economic Assistance Coordinating Council approved a $10,000 refundable tax credit as part of its vacant storefront investment incentive program to a Fitchburg restaurant that's planning a move downtown.
Dario's Ristorante, an Italian restaurant now located at 187 River St., plans to move to a larger space at 655 Main St., the former Fitchburg Gas & Electric Light building about a block away from a former theater building being renovated by Fitchburg State University. The school's project includes a plan to restore a 1,200-seat theater to join an entrepreneur and educational space.
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