MA: Amazon to Expand in Fall River & Freetown, Invest $54M, Create 500 Jobs
25 Mar, 2015
Governor Charlie Baker and Lieutenant Governor Karyn Polito announced the state’s Economic Assistance Coordinating Council (EACC) has approved an incentive package for Amazon’s proposed expansion in Fall River and Freetown.
The incentives, awarded through the Commonwealth’s Economic Development Incentive Program (EDIP), will facilitate an expansion project expected to create 500 new full-time jobs in Massachusetts. Amazon’s South Coast expansion will also create over 2,000 seasonal jobs, while leveraging $54 million in private investment. The decision was made during EACC’s board meeting Tuesday morning.
“This project will not only create new jobs for the residents of Bristol County, but will also provide a much needed economic boost to one of our gateway cities,” said Governor Baker. “By supporting companies that are looking to expand in the Commonwealth, we are setting the stage for a competitive and stable economic environment here in Massachusetts.”
“Our administration is committed to supporting businesses and promoting regional economic development, and through the EDIP program, we are helping businesses grow and create jobs for residents here in Massachusetts,” said Lieutenant Governor Polito. “We look forward to seeing this expansion project strengthen the economies in both Fall River and Freetown.”
The EACC approved $2.25 million in Enhanced Expansion Project Credits, as well as $1 million in Job Creation Projects Credits, for a total of $3.25 million in EDIP investment tax credits. In addition, the City of Fall River is supporting the project with a 15-year Tax Increment Financing and Personal Property Tax Exemption Agreement valued at $7,808,850. The Town of Freetown is supporting the project with a 15-year Tax Increment Financing and Personal Property Tax Exemption Agreement valued at $3,830,425.
Through the expansion project, Amazon will invest approximately $54 million in a 1 million square foot sortable fulfillment center to be constructed by a third-party developer in the SouthCoast Life Science & Technology Park. Approximately 60 percent of the new construction will be in Fall River and 40 percent of the new construction will be in Freetown. The center is expected to be operational in late 2016.
“Amazon’s commitment to Fall River and Freetown is welcome news for the entire South Coast,” said Congressman Joseph Kennedy III. “This project will bring quality jobs to our communities and help spur additional private sector growth to further compliment the dynamic development strategies already championed by cities and towns across the region.”
"This is very exciting news for the City of Fall River,” said Mayor Samuel Sutter. “The 500 jobs created by this project will be transformative for our city. We look forward to Amazon completing the land purchase now that all the pieces are in place. We believe the construction of this great facility could begin as early as this summer."
“It is a privilege to see the growth potential of these communities being recognized by some of the fastest growing companies in the world,” said Senator Michael Rodrigues. “We are excited to see the economic and community benefits that these businesses will provide to our residents and are grateful for the Baker-Polito Administration’s continued support throughout the process.”
“This is a hallmark day for this district and our community,” said Representative Carole Fiola. “We look forward to the day when the shovel is in the ground, with the promise of new jobs and a blossoming regional economy on the horizon. I’m glad to have Amazon as a part of our corporate community, and I thank Governor Baker, Lieutenant Governor Polito, and Secretary Jay Ash for their wholehearted support for this project and our region.”
The EDIP is a tax incentive program designed to foster job creation and stimulate business growth throughout the Commonwealth. Participating companies may receive state and local tax incentives in exchange for job creation, job retention and private investment commitments. To learn more about the program, click here.