Leominster OKs TIF with Easy Pak
Leominster officials this week approved a tax increment financing deal with plastics manufacturer Easy Pak. The privately held company plans an expansion that will add at least 15 new jobs.
Easy Pak currently employs about 70, mostly from the Leominster/Fitchburg area. It has been in Leominster for about 10 years.
Lisa Marrone, the city’s economic development coordinator, said the company will more than double the size of its 21,000-square-foot building at 24 Jytek Dr.
In a statement, Marrone said the building expansion is a $2 million project, added to $5.5 million for new machinery and other equipment. The tax break applies to the added value to the building.
Leominster approved the TIF agreement Nov. 10. The Patrick administration still needs to sign off on it, and may do so next month.
The state Office of Business Development will present the project to the state Economic Assistance Coordinating Council for final approval with an additional award of investment tax credit for Easy Pak’s job creation, Marrone said.
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