By Joan F. Simoneau, Community Reporter
Marlborough-LFB Corporation (LFB), a leading pharmaceutical company, was granted a Tax Increment Financing (TIF) agreement by the City Council at its Aug. 24 meeting, paving the way for the construction of a new 65,000-square-foot facility on Crowley Drive, which is currently vacant land.
In presenting his request for the TIF proposal to the Council in July, Mayor Arthur Vigeant stated that LFB is planning to add 50 full-time positions in the city as the company, which has facilities in Framingham and Charlton, completes the project locally. They are hoping to begin construction on the pharmaceutical upstream commercial clarification facility in November, hoping for completion in a year. Plans also include building a $13 million addition to its planned new facility in the future.
The LFB project also projects to generate $711,360 in tax revenue, according to Vigeant in his statement to Councilors.
“If the site were to remain vacant land, it would generate only $105,000 in tax revenue over the same time period,” he said.
“LFB chose to expand in Marlborough due to our access to a well-educated workforce with a high degree of knowledge within the life science sector and our transportation access,” said Vigeant in his proposal to the council. “It is an affirmation of Marlborough and a credit to you that companies like LFB continue to move to and expand in the city.”
Earlier this year the Council granted a five-year extension to a TIF agreement the city has with Hologic, a major developer, manufacturer and supplier of diagnostic equipment, surgical products, and medical imaging systems. The action allowed Hologic to move its Bedford operations to Marlborough, adding 150 employees to its workforce already in the city – at 250 Campus Drive and Simarano Drive, bringing the total to over 600 positions.