WESTFIELD – Jarvis Surgical, Inc. of Westfield, manufacturer of precision components for the orthopedic industry, was approved for participation in the state’s Economic Development Incentive Program (EDIP).
In total, the 12 approved economic development projects are expected to create 393 new jobs and retain 1,026 jobs throughout Massachusetts, while leveraging approximately $133 million in private investment.
Jarvis manufactures components for replacement knees, hips, shoulders and spines. The company is adding a 15,000 square foot addition to its current facility, and is purchasing new equipment to increase manufacturing capacity. Jarvis will hire 46 new employees, retain 80 employees, and make a private investment of $2 million. The City of Westfield approved a 15-year TIF valued at $157,461.
“Our administration is committed to fostering a pro-growth business environment in Massachusetts, and fostering job growth across the state,” said Governor Charlie Baker. “These job-creation incentives give our businesses another tool to reach their full potential in the Commonwealth, encouraging long-term, sustainable economic growth, and catalyzing significant investments that benefit our workforce.”
“The Economic Development Incentive Program benefits communities across the Commonwealth, by tying incentives to job growth and investment goals,” said Lieutenant Governor Karyn Polito. “These incentives spur sustainable growth that strengthen cities and towns, and encourage further investment from our businesses.”
“These incentives give us another tool to connect residents across the Commonwealth to well-paying, long-term job opportunities,” said Housing and Economic Development Secretary Jay Ash. “Keeping Massachusetts open for business is a high priority for us, and helping businesses realize growth goals is part of that commitment.”
“Economic Development Incentive Program credits are a cost-effective tool for encouraging community investment, across a variety of sectors,” said Assistant Secretary for Business Development Nam Pham. “These incentives generate significant private investment job growth.”
This quarter, the EACC approved economic development incentives for three manufacturing companies, and ten projects located in Gateway Cities.
The EACC has approved 72 economic development projects since January 2015. These projects will create 3,722 jobs, retain 5,733 existing jobs, and leverage more than $1.17 billion in private investment. Since 2015, the EACC has assisted 34 manufacturing companies and 37 companies in Gateway Cities.
