This will greatly increase its vertically integrated additive manufacturing operations and is expected that it will create 1,063 new jobs. These jobs will be in the consumer goods, industrial, defense, aerospace, and medical sectors. Nes of such new facilities and the jobs they create can be disseminated throughout a community with flyer printing.
An amount of $21.26 million in state tax credits has been approved by the Massachusetts Economic Assistance Coordinating Council (EACC) through the Economic Development Incentive Program (EDIP). The EDIP ties tax credits to commitments of capital investments and the creation of jobs and is administered by the Massachusetts Office of Business Development.
This facility in Devens will be third one of VulcanForms in the state. The company has sites in Newburyport and Devens. VulcanForms uses industrial metal machining equipment, production systems, and 3D printers to manufacture parts for a wide range of industries. In January of this year, the company secured $220 million in Series D funding so that it could support domestic supply chain development and help to scale its manufacturing platform.
Eric Paley, Economic Development Secretary, said:
“The Economic Development Incentive Program is one of the state’s most effective tools for supporting business expansion and job creation.”
He also highlighted the many sectors committed to the state, of which VulcanForms has played a major role.