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March 26, 2015

State supports expansion effort at Northbridge business

An $8.1 million expansion project at WGM Fabricators of Northbridge has been approved for the state’s Economic Development Incentive Program (EDIP), the state’s investment tax credit program for businesses.

The Northbridge project is one of 13 in the state newly approved by the Economic Assistance Coordinating Council (EACC) for participation in the EDIP.

WGM Fabricators, founded in 1946 as Woonsocket Glass & Mirror Co., manufactures and supplies beveled, sandblasted, and other kinds of glasses and mirrors.

Under new ownership since 2013, when a private investor and employees purchased the company, WGM Fabricators experienced growth and sought additional manufacturing space. The company plans to purchase and renovate a 25,000-square-foot Northbridge facility, and expand the facility by 8,800 square feet, according to a news release Wednesday from the Executive Office of Housing and Economic Development.

The project is expected to create a net of 50 new full-time jobs, the statement said. The town of Northbridge authorized a $21,408 tax increment financing agreement supporting the project. The EACC added $375,000 in EDIP investment tax credits.

Together, the 13 projects approved for the incentive program are expected to create close to 1,000 new jobs and retain about 1,600 jobs throughout Massachusetts, while leveraging approximately $178 million in private investment, the statement said.

EDIP tax credits and other incentives designed to help businesses grow are available to companies that make qualifying investments in new facilities and create new jobs. The EACC meets four times a year to review applications.

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