Business Development Strategies secures tax incentives for Potpourri Group real estate expansion
Architectural rendering of new Potpourri Group building in Littleton, Massachusetts
Multi-channel direct-to-consumer company, Potpourri Group, Inc., (PGI) is growing in Massachusetts as the Company starts construction on a new 450,000 square foot fulfillment and call center in Littleton. The project is the result, in part, of a $3.9 million package of state and local government incentives secured by Business Development Strategies, Inc. (BDS).
In an era when time-pressed consumers are increasingly turning to Internet sales for their at-home shopping needs, the 52-year-old Company is planning to lease a newly constructed, state-of-the-art facility in order to meet increased customer demand for its approximately 50,000 products. PGI processes more than 4 million orders and ships more than 5 million packages each year. Its diverse inventory spans the spectrum from home decor to pet accessories. PGI’s planned expansion and relocation to Littleton will allow the Company to retain 227 permanent full-time jobs and create 130 new permanent full-time jobs in the Commonwealth while adding hundreds of thousands of dollars in tax revenue to state and local coffers.
“This major employer plans to make a commitment and investment in the Commonwealth of Massachusetts,” explains BDS President and government incentives consultant Lynn Tokarczyk, whose team guided PGI’s incentives process to a successful outcome. “Potpourri will remain in Massachusetts, retain and add jobs, and demonstrate its continued faith in the Commonwealth by undertaking a major expansion project.”
The estimated $49 million project investment will help to invigorate Greater Littleton’s economic health by diversifying the local tax base, stimulating the local economy, and developing an underutilized property.
“Lynn Tokarczyk and the BDS team were instrumental to our success in securing the local and state tax incentives for our expansion in Massachusetts,” says PGI President and CEO Jonathan Fleischmann. “They are true professionals, and we could not have attained this result without their guidance and assistance.”
The Littleton property where PGI plans to expand is owned by MA Littleton Land, LLC, a joint venture between affiliates of Condyne Investment Fund II, LLC and Square Mile Capital Management, LLC.
PGI’s successful bid for incentives also contributed to a record-breaking year in 2014 for BDS in which the Company saved an estimated $15 million for Potpourri and other well-known national and global clients, including Keurig Green Mountain, Crown Linen Service, TripAdvisor, IPG Photonics, SMC Ltd., and others. Together, these projects are expected to add 1,000 new jobs, retain 2,000 existing jobs, and generate $165 million in private investment in Massachusetts.
“The positive response by business, government, and community leaders to the PGI project proves there is widespread recognition of the importance of government incentives to the Commonwealth’s economic health,” Tokarczyk explains. “BDS is pleased to play a role in helping Massachusetts build upon its reputation as a pro-business state.”