New Balance plans new manufacturing facility in Methuen
today Jun 28, 2019
Boston, Massachusetts-based footwear and apparel company New Balance is set to open a new manufacturing facility in Methuen, Massachusetts in 2020.
According to a report by The Boston Globe, the $33 million project will be supported by $900,000 in state tax credits approved by the state Economic Assistance Coordinating Council. In addition, the city is set to give the company $272,000 in property tax breaks.
In exchange for this support, New Balance has committed to bringing 60 new jobs to the community.
The factory will mark New Balance’s first new factory in over two decades, and was described by New Balance’s chairman Jim Davis as a “factory of the future," indicating significant tech features.
Elsewhere in the state, New Balance operates a manufacturing plant and factory store in Lawrence, and has its world headquarters in Boston.
In addition, Boston Landing, a new multi-use development in Boston, will play host to The Track at New Balance, a multi-sport complex, which will also house the company’s sports research lab and a concert venue. Construction at The Track at New Balance is expected to complete in late summer 2021.
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