The corporate headquarters of BJ’s Wholesale Club Holdings Inc. is planning to be moved from Westborough to Marlborough.
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The company plans to move to two buildings on Campus Drive and is requesting a tax increment financing deal (TIF). The plan is to build a parking garage to span 120,000 square feet with 300 parking spaces for its employees, and to occupy the two buildings spanning 190,000 square feet. BJ’s senior vice president, David Picot, said that there would be approximately 1,000 employees at the new location, with a commitment to lease the space for the next 20 years.
It is also planned that the company will spend between $15m and $18m to renovate the space. This will include the installation of a data center and renovating the office space.
The proposed TIF would exempt the company fully for property taxes in fiscal 2023, 2024, and 2025, then be exempt at a rate of 95% in fiscal 2026 and 2027. Over the proposed 20 years, the exemption will drop until it reaches 5% in fiscal 2042. The TIF also requires BJ’s to maintain at least 800 permanent, full-time jobs during the 20-year period. The TIF proposal needs to be approved by the Massachusetts Economic Assistance Coordinating Council before being finalized.Get a Free Quote for Stationery Get a Free Quote for Letterheads
