Global Manufacturer expanding in Lowell
Rendering of MACOM’s new corporate headquarters in Lowell, MA (Courtesy of Calare Properties)
Business Development Strategies Assists to Secure Tax Incentives for MACOM
High tech manufacturing is growing in Lowell. That is where MACOM Technology Solutions Inc., (MACOM), a global developer and advanced manufacturer of integrated circuits, components, and modules, is planning for the construction of its new corporate headquarters and campus. The much-anticipated 50,000 square foot expansion is moving forward thanks, in part, to widespread community support and a generous package of government incentives negotiated and secured with assistance from Business Development Strategies, Inc. (BDS).
“The City of Lowell is thrilled at MACOM’s plans to expand its headquarters in Lowell. My administration and the City Council appreciate MACOM’s commitment to the community and efforts to hire locally. As the City’s largest advanced manufacturer we are happy to support their expansion plans with a local TIF and look forward to strengthening our partnership with the company.” – Kevin J. Murphy, Lowell City Manager
Deep local roots
Founded in a loft in 1950, MACOM has grown into an award-winning manufacturer of technologies and products used in high speed optical, satellite, radar, wireless networks, medical devices, and other applications. Its reputation for excellence is built on innovation, high quality products and the talents of its highly skilled workforce. Embedded in Lowell for many decades, the company is deeply involved in numerous local programs. When MACOM’s need to expand became known in the community, Lowell city leaders showed their appreciation by supporting a 10-year Tax Increment Financing (TIF) to reduce the company’s cost of doing business in the city.
“As a global company, MACOM could have expanded anywhere, but they decided to remain and grow in Lowell,” explains BDS President Lynn Tokarczyk, a leading government incentives consultant in Massachusetts. Working closely with BDS, MACOM and Lowell officials secured a meaningful incentive package that fulfilled the advanced manufacturer’s needs.
“Lynn and her team of subject matter specialists helped guide MACOM through the complex incentives process and kept our expansion project on a fast track to success,” says MACOM CEO John Croteau. “We were very pleased with the city’s positive response to our project and their willingness to partner with us.”
The decision by a global manufacturer of high tech products to grow in Massachusetts is familiar to Brian R. Gilmore of Associated Industries of Massachusetts, Inc. (AIM). As a vice president of an organization representing Bay State employers, Gilmore frequently hears about companies that find the Commonwealth a welcoming place to put down roots.”Even though many people may believe manufacturing is long gone from Massachusetts, in truth, manufacturing is the fourth largest employer in the state and accounts for more than 11 percent of the state’s economy, with an average annual wage of more than $70,000,” he relates.
As a result of MACOM’s decision to stay and expand in place, Lowell will retain more than 370 high skill jobs and benefit from MACOM’s continued support for the Lowell Public Schools, UMass Lowell and other local organizations. The company’s long-standing presence in Lowell also testifies to the city’s appeal as a base of the Commonwealth’s innovation economy.
As the leading government incentives consultants in the state, Tokarczyk and the BDS team have assisted more than 100 companies in saving more than $70 million in state and local taxes over the past 13 years. Privately-owned and publicly-held companies such as Keurig, TripAdvisor, Potpourri Group, IPG Photonics, and others have relied on BDS’s expertise to help secure government incentives while creating more than 6,000 new jobs, retaining close to 13,000 jobs and investing an estimated $900 million in local cities and towns.