Wednesday, April 3, 2013
Foxborough’s Board of Selectmen approved the town’s TIF negotiating committee’s request to accept Invensys’ TIF proposal and recommend it at next month’s Town Meeting.
Invensys took a significant step Tuesday towards investing approximately $33 million into its existing buildings to stay in Foxborough as the town's Board of Selectmen unanimously agreed to recommend the company's Tax Increment Financing (TIF) proposal to voters at Town Meeting on May 13. The proposal calls for a 15-year TIF agreement between Invensys and the town that would save the company approximately $1.8 million while producing roughly $7.6 million in additional tax revenue over that timeframe. If approved, the town would exempt Invensys completely from new tax payments in years 1-4 of the agreement. The proposed exemption term (year-by-year) for Invensys' properties - both the 70 Mechanic St. and 38 Neponset Ave. buildings - is as …
Tuesday, April 2, 2013
Foxborough’s Tax Increment Financing (TIF) negotiating committee will provide the town's Board of Selectmen with an update on talks with Invensys Tuesday night.
After roughly a month of negotiations with Invensys, the town’s Tax Increment Financing (TIF) negotiating committee is ready to present its findings to Foxborough’s Board of Selectmen Tuesday night. The presentation is scheduled for 7:10 p.m. in the Andrew Gala Meeting Room of Town Hall and is expected to last at least 45 minutes. An outline of Invensys’ desired terms of a 15-year TIF with the town showed the company, with roots over 100 years old in Foxborough, would be exempt from TIF payments over the first four years of the agreement. The outline, made public in March, shows Foxborough would receive $7,632,716 in total revenue over the 15-year term of the TIF, including $998,051 in TIF taxes over the final 11 years of the deal. …
Wednesday, March 13, 2013
Invensys’ first tax increment financing (TIF) proposal to the town would save the company roughly $1.8 million over 15 years while producing roughly $7.6 million in total revenue to Foxborough.
Expressing a desire to remain in Foxborough, Invensys has submitted its first Tax Increment Financing (TIF) proposal to the town as negotiations began late last week. According to the proposal, the TIF would last 15 years and save Invensys a total of $1,880,944 while enabling the company to invest $33 million-worth of renovations to existing buildings and remain in Foxborough. “The company currently occupies three underutilized and outdated locations in Foxborough,” said Invensys Senior Vice President Steve Sacco in a recent letter to Town Manager Kevin Paicos. “It has proposed plans to consolidate into two buildings to maximize efficiency and provide a more modern and attractive workspace for its employees.” The total project investment …
Wednesday, February 13, 2013
Invensys recently told selectmen it is interested in making a $30 million investment to its existing infrastructure to remain in Foxborough if the town agrees to a tax break program known as a TIF.
Invensys, with roots 104 years old in Foxborough, has expressed “significant” interest to remain in town but needs a Tax Increment Financing (TIF) program approved in order to invest $30 million worth of renovations to existing infrastructure. Steve Sacco, senior vice president of Invensys, informed selectmen last week the company is approaching the end of two building leases in town and has started looking at its options both in and outside of Foxborough. “We’ve started to look at facilities in the area … in Foxborough and elsewhere,” Sacco said. … “Our goal in what we need to do is really provide a modern, attractive workspace for our employees. We currently have vacant and outdated space in our buildings.” Invensys currently operates …
Wednesday, December 21, 2011
Watch the following newly added video. The Invensys and Rotary Club's "Community Day of Caring" was held on Nov. 3.
During a week where Foxborough residents and businesses came together to support each other through the duration of the October snowstorm power outage, came another shining example of just how dedicated businesses and residents are to serving the community. Approximately 80 Invensys employees, volunteers and Rotary Club members came together on Thursday, Nov. 3 for a "Community Day of Caring" in Foxborough. Invensys employees pledged over 600 hours of community service to the town. Employees and Rotarians were spread throughout Foxborough working on various community service projects. "Our goal is to be a bigger part of the community," said Russell Jackson of Invensys as he worked on repairing the Steamer Shed. "We raised $1000 between the…
Wednesday, May 25, 2011
The Foxborough School Committee accepted a donation of $10,000 from Invensys.
The Foxborough School Committee graciously accepted a donation of $10,000 from the Foxborough rooted company Invensys during Monday's meeting. The donation from Invensys will aid in funding the Ahern Middle School's Summer Math Camp. "I would like to thank the folks at Invensys for all their work and commitment that they make to the community of Foxborough every year," said Superintendent Christopher Martes. Invensys has stepped up year after year in helping to fund many of Foxborough's math and science endeavours. In November 2010, the School Committee accepted a $9,087 gift from Invensys to start a grade 8 robotics elective course at the Ahern Middle School. The grant aided in funding a new after school club, cleverly named the "Robodocs…
Wednesday, February 9, 2011
Robodocs win trophy after competing in the State's first Lego League Championship.
Lego’s, robotics and the song "Shipping up to Boston," by the Dropkick Murphys are not all what you would expect when learning about a new club at the Ahern Middle School, but that is exactly the combination that sent the "Robodocs" team home with a trophy. In November 2010, the School Committee accepted a $9,087 gift from Invensys to start a grade 8 robotics elective course at the Ahern Middle School. The grant aided in funding a new after school club, cleverly named the "Robodocs." Students Garrett Christie, Sam Berns, C.J. Decker, Parker Feldman, Patrick Elias, Jack Fletcher, Kevin Hickey, Connor Hogan, Harry Madden, Devan Tierney, Erika Snow, Tyler Vito, David Washburn, with the help of their coaches, Ms. McDonough and Ms. Tetreault, …
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John J. Ahern Middle School
111 Mechanic St, Foxboro, MA
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Bill Kass
11:02 am on Sunday, May 19, 2013
I hear talk that Invensys has let their lease run out in the buildings in Foxborough. Will the tax break transfer to the new tenants when the renovations are done? more ›