State approves Charlton tax breaks for $300M Amazon center
Photo | Screenshot of presentation from Bluewater Property Group
A prototype image of the proposed Amazon facility in Charlton, presented by Bluewater Property Group.
The Gov. Charlie Baker administration signed off on a 10-year tax-increment-financing agreement for a forthcoming Amazon distribution center in Charlton, according to a Thursday press release.
The $300-million private project is expected to create 1,000 jobs. Charlton voters approved the TIF proposal in November at a special town meeting, with the vote falling 269-86 in favor.
USRE Patriot, LLC is a special purpose entity created for the project, according to the Massachusetts Economic Assistance Coordinating Council, which is the state agency which provides official approval all local tax breaks for businesses. USRE Patriot is backed by US RE Company, LLC, a business which acquires, develops, finances, and manages real estate investment.
The company has proposed developing roughly 100 acres of land at 53 Sturbridge Road, where it plans to build a five-story, 2.86-million-square-foot warehouse/distribution facility which will be leased to Amazon. The TIF benefits are expected to be passed on to Amazon, per Thursday’s press release.
The TIF will exempt 55% in the first two years and decrease to 10% by the end of the 10-year agreement, according to the proposal. It is expected to save Amazon roughly $11.6 million, with the Town of Charlton expecting $65 million in new revenue over two decades from the development.
Construction is set to begin in March and aims to be done by July 2023, according to the town.
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