Analog Devices expanding in Wilmington with Help from Business Development Strategies
With the turn of a shovel, Analog Devices, Inc. (ADI), a leading global high-performance technology and manufacturing company, is strengthening its commitment to keep and grow jobs in Massachusetts. ADI has broken ground on an estimated 440,000 square feet of space consisting of office, research and development, a community hub and parking garage at its corporate campus in Wilmington. This location will also become its new worldwide corporate headquarters. ADI turned to Lynn Tokarczyk, Government Incentives Consultant with Business Development Strategies, Inc., (BDS), for help with finding the right tax incentives for the $150 million project.
As a result of ADI’s on-site expansion, the Company will retain 1,600 full-time jobs in Wilmington and create 50 new full-time jobs.
“We were very fortunate to have such a seasoned team represent our incentives project and deliver a valuable result,” said Mike Errera, Analog Devices’ General Manager for the Wilmington/Chelmsford campuses.
“The Town of Wilmington is proud to partner with its largest manufacturing employer, Analog Devices, to facilitate expansion of their corporate campus here,” said Wilmington Town Manager Jeff Hull. “The local Tax Increment Financing under the state’s Economic Development Incentive Program (EDIP) will not only help Analog Devices expand and enhance its state-of-the-art corporate headquarters, it will also create additional employment options for residents and increase opportunities for local businesses.”