Global Sports Company Opening Distribution Center in East Bridgewater
’47 Secures Tax Incentives with Assistance from Business Development Strategies
Top row, left-right: David, Mark and Bobby D’Angelo.
Bottom row: Arthur D’Angelo and Lynn Tokarczyk
Hello Sports Fans!
Sports are a huge part of Massachusetts culture. So, it’s only fitting that ’47, one of the country’s top brands for sports apparel and accessories, is headquartered right here in Westwood, Massachusetts. When ’47 needed to expand its real estate portfolio in response to increased customer demand, it turned to Business Development Strategies, Inc. (BDS) for assistance in securing a tax incentive package in East Bridgewater, Massachusetts.
A Household Name
In 1947, twin brothers Arthur and Henry D’Angelo founded Twins Enterprises. They started out by selling sports pennants and souvenirs from a street cart near Fenway Park. Eventually, they opened the official Team Store of the Boston Red Sox across the street from the historic ballpark.
The D’Angelos later decided to manufacture and sell their own high-quality sports merchandise under the ’47 name. Today, ’47 is known near and far thanks to licensing agreements with four professional sports leagues and over 900 colleges and universities. The Company remains family-owned and operated, with the second generation of D’Angelos now at the helm.
Eyeing an Expansion
To keep up with growing demand for its hats, shirts and other memorabilia, which can be found in many team stores and major department stores, ’47 recently made plans to open another distribution facility in addition to its others located in Brockton and Salisbury, Massachusetts.
Following an extensive site search in Massachusetts and throughout the United States, AIS Development, ’47’s real estate advisers, assisted in finding a viable location in East Bridgewater. The building is 463,000 square feet, about half of which had been vacant since Shaw’s Supermarkets closed its distribution center there in 2001.
Rounding the Bases
The BDS team guided ’47 through a complex process that required approvals by local officials, Town Meeting and the state. Earlier this year, BDS pushed the project over the finish line by securing a significant tax package under the Economic Development Incentive Program (EDIP). The package included a state tax credit along with local tax incentives in the form of Tax Increment Financing (TIF).
“Lynn Tokarczyk and the BDS team are seasoned consultants. They were able to guide ’47 through the incentives process and achieve substantial results,” says Joe Keane, Chief Operating Officer at ’47.
Good News for the Town
’47 is renovating the building and plans to initially occupy over 50% of the space. Two other tenants currently lease the remaining space; once they vacate the property, ’47 could occupy the entire building. The property also has the capacity for an on-site building expansion to accommodate the Company’s future growth plans.
“We are thrilled to be part of the ’47 tax incentives team and look forward to seeing the Company continue its journey of growth in Massachusetts,” says BDS President Lynn Tokarczyk.
A Great Partner
For East Bridgewater, the arrival of ’47 brings a second-generation, family-owned business with deep Massachusetts roots into the Town, a company that plans to be an active and dedicated partner with the community. It also means new jobs and additional tax revenue that will benefit the town and its residents and enhance the local economy.
“Town leaders were immediately interested in attracting ’47 knowing the ‘Brand’ name,” says John Margie of the East Bridgewater Board of Selectmen. “We realized their plans to purchase and revitalize our largest underutilized industrial building would be a big financial boon for the community. We are pleased that Town Meeting unanimously voted to approve the TIF and ’47 has decided to locate here.”
Benefits to Massachusetts Businesses and Communities
As the state’s leading government incentives consulting firm, BDS has assisted more than 100 companies in saving over $100 million in state and local taxes since 2003. Serving both privately-owned and publicly-held companies such as TripAdvisor, Potpourri Group, IPG Photonics, MACOM, Moderna Therapeutics, and New England Ice Cream, BDS has helped its clients create 6,000 new jobs, retain 13,000 jobs and spur an estimated $1 billion in investments in Massachusetts communities.