Massachusetts Incentives for Equipment Improvements and Capital Projects for Manufacturing Facilities - Part Two

Manufacturing companies specializing in emerging technologies should consider moving their facilities to Massachusetts due to the resources and state incentives for expansion and equipment improvements.. Here are some examples of how specific Massachusetts-based manufacturing companies have used the various forms of financing to upgrade their facilities. Many large manufacturing companies have expanded their operations or improved their equipment in Massachusetts working with engineering firms such as SPEC, and several of our clients received state funding for both the expansion of their manufacturing facilities and the purchase of new industrial equipment:

E Ink Corporation, a developer of electronic paper displays and electronic ink technologies (most notably in devices such as the Amazon Kindle and the Sony Reader), received a $1 million loan from MassDevelopment through its Emerging Technology Fund (ETF). Cambridge-based EInk qualified for ETF financing because of its strong management team, market demand, proven fundraising record and demonstrated technical feasibility. SPEC worked with E Ink to expand its downstream process manufacturing steps to help the company facilitate a large order it received from Motorola's low cost third world cell phone product line. SPEC also upgraded and increased the capacity of E Ink's upstream reaction process by increasing the existing power feed and installing a standby generator for their critical manufacturing steps. These projects yielded an 83 percent increase in overall product yield.
Konarka Technologies, a Lowell-based thin film photovoltaic company, received $5 million in state funding through MassDevelopment's ETF and Massachusetts Renewable Energy Trust's Business Expansion Initiative. The new funding went towards Konarka's facility in New Bedford and supplements the over $100 million the company has received since 2001 through venture capital, industry partners and state incentives. Konarka contacted SPEC after ordering a new thermal oxidizer from Durr. Realizing that they would have difficulty meeting the pre-installation requirements provided by Durr, Konarka asked SPEC to help them meet design requirements, secure building permits and complete construction within three months. SPEC worked on an accelerated schedule to get the site prepared and ready for installation by the time the equipment arrived.

Qteros, formerly known as SunEthanol and often referred to as the "Microsoft of Energy," was approved for up to $100,000 in financing from MassDevelopments Brownfields Redevelopment Fund. SPEC played an instrumental role in helping Qteros select and purchase lab space, equipment and pilot scale fermentors while meeting their aggressive timetable. Along with the help of the City of Chicopee, which expedited the permitting process, Qteros was able to ramp up quickly enough to receive Department of Energy funding as well as state incentives.