BOSTON – Established in Massachusetts in 1837, Lamson & Goodnow is the oldest cutlery manufacturer in the United States.
The company is proposing to invest $190,000 to relocate from their current facility in Shelburne Falls to a facility in Westfield. The relocation will allow Lamson & Goodnow to improve their manufacturing capabilities and improve accessibility to their vendors. The project is expected to create 18 full-time jobs and retain 12 full-time jobs in Westfield. The City of Westfield is supporting the project with a 5-Year Special Tax Assessment valued at $35,583.
The Commonwealth’s Economic Assistance Coordinating Council (EACC) approved 16 projects for participation in the Economic Development Incentive Program (EDIP), including Lamson & Goodnow. These projects are expected to create 606 new jobs and retain 879 jobs throughout Massachusetts, while leveraging approximately $197.8 million in private investment.
“The projects we support through the EDIP program help build a framework for future growth and development across the Commonwealth,” said Housing and Economic Development Secretary Jay Ash. “Effective, targeted investments cultivate local companies, create new jobs for our residents, and grow our economy.”
Among the approved projects are eight manufacturing companies and two projects located in Gateway Cities. The EACC also approved seven locally-directed economic development projects, showcasing municipalities’ efforts to control their own economic growth.
“Massachusetts is committed to supporting entrepreneurs and expanding businesses,” said Assistant Secretary for Business Development Nam Pham. “These incentives are an investment in job opportunities for our residents, and long-term sustainable growth in our future.”
In partnership with local towns and cities, the EDIP is the Commonwealth’s investment tax credit program for businesses, and is one of the most effective tools in helping businesses grow in Massachusetts. EDIP tax credits and other incentives are available to companies that make qualifying investments in new facilities and create new jobs. To learn more about the program, click here.
The EACC has approved 29 economic development projects since January. These projects will create 1604 jobs, retain 2481 existing jobs, and leverage $375.8 million in private investment. The EACC has assisted 16 manufacturing projects, and 10 projects in Gateway Cities this year. The EACC meets on a quarterly basis to review applications.
