Boston Scientific expansion program to start in April

By Joan F. Simoneau, Community Reporter

Marlborough – Groundbreaking for Phase II of Boston Scientific Corporation's expansion program in Marlborough is scheduled to begin in April, Mayor Arthur Vigeant said in a communication to the City Council at its Feb. 11 meeting. This will fulfill the second phase of the city's existing Tax Increment Financing (TIF) agreement with the company that was adopted and agreed to in 2006, he said.

“The initiation of Phase II coincides with Boston Scientific's expansion in Marlborough and their announcement naming our community as their new global headquarters,” Vigeant said. “This process does not require any local or state approval or certification, nor is any alteration being made in the existing agreement.”

Boston Scientific, located at 200 Fairbanks Boulevard, has already invested a total of $100 million under Phase I of the agreement. This includes $45.5 million in initial real estate acquisition and $54.5 million in improvements to existing Buildings 50, 100 and 200, totaling 504,000 square feet, according to a letter sent to the mayor from Paul Donhauser, Boston Scientific's director of global facilities, operations and real estate. Donhauser said the company is currently completing another $6 million in improvements to Buildings 50 and 100.

“It is our expectation that these additional assessed improvements will fall under the Phase I schedule, with TIF exemption benefits ending the last day of fiscal year 2022,” said Donhauser.

Beginning in March the company is planning to relocate approximately 300 employees from Natick to Marlborough, with the remainder to move upon completion of the new ?Building 300. ?The company is targeting ribbon cutting for April 2014.

The cost of the new building is estimated at approximately $30 million. It will consist of four floors with connecting and enclosed walkways. Plans are to re-work the parking site to accommodate 1,800 people. Donhauser said the total additional employment is expected to meet the required headcount as set forth under the TIF agreement for both phases.

In other business, councilors unanimously approved appointments recommended by the mayor: Ronald Guest as Parking Clerk, Kim Beauchemin, James David Elmore and Sandra Pirie-St. Amour to the Arts Lottery Council; John Sahagian to the Zoning Board of Appeals (ZBA) for five years, and Ralph Loftin as an alternate member of the ZBA for a term of two years.

Short URL: http://www.communityadvocate.com/?p=30973

Posted by on Feb 13 2013. Filed under Byline Stories, Marlborough, This Just In. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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