NEW BEDFORD — The New Bedford Tax Increment Finance Board chaired by Mayor Frederick
M. Kalisz Jr. has unanimously approved seven tax increment financing agreements
reflecting total private investment of more than $13 million, creating 172 new
jobs while retaining another 348.
The projects:
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- Ixion Technologies, a high tech manufacturer, to purchase the 90,000 square foot vacant U.S. Ringbinder Building, a $7.5 million capital investment in a Brownfield qualified site with projected net jobs of 170
- MISB, Inc. to invest $1.4 million investment to build a 20,000 square foot processing facility on Lot 8 in the Standard Times Field development tract, with a net of 21 jobs
- Seafresh to invest $825,000 in a 13,000-square-foot improvement at 14 South St. for a net of 58 jobs
- Eastern Fisheries to invest $300,000 at 6 Hassey St. for a net of 150 jobs
- JT Sea Products to invest $325,000 in a 5,000 square feet new building at 164 North Front St., a net of 23 jobs
- Luzo Food Service to invest $2.1 million into 26,000 square feet of new and rehab space, netting 78 jobs
AAA Recycling to invest $712,000 in a 20,000 square foot facility at 781 Church St., netting 20 jobs
The New Bedford Economic Development Council is negotiating the agreements and
according to Executive Director John R. Zakian, the projects build upon ongoing
objectives of diversity and existing business expansion within the city’s commercial
base.
