RANDOLPH, Lynn Tokarczyk, President of Business Development Strategies, Inc. (BDS), a leading Government Tax Incentives consulting firm, recently announced that Cox Engineering will soon be expanding and relocating its operations to Randolph after engaging in an extensive site search to accommodate its growing manufacturing operations. The BDS team assisted in negotiating a tax incentive package for the Company that will save close to $500,000 in local real estate taxes in exchange for its $9 million capital investment. Over the past 14 years, BDS’ clients have infused more than $1 billion in private investments and realized more than $100 million in collective tax savings.
Founded in 1914 and headquartered in Canton, Massachusetts, Cox Engineering is a third-generation family-owned manufacturer of large air handling units, HVAC piping and sheet metal ductwork. For more than 100 years, Cox Engineering has served a wide range of sectors including, hospitals, life science companies, universities, restaurants and the hospitality industry. Cox Engineering provides its products to many customers, among them Gillette Stadium, Seaport Hotel, Harvard University, Dana Farber Cancer Institute, and others.
Cox Engineering decided to expand its office and manufacturing operations in Massachusetts due to increased customer demand for its products and services. The Company conducted a real estate site search and identified a 70,000 square foot property on Pacella Park Drive in Randolph with the capacity for future expansion.
“Cox Engineering is exactly the type of business we are proud to host in Randolph,” said Town Manager David Murphy. “This family-owned, American manufacturing company provides good-paying jobs and offers career advancement opportunities. We took advantage of the resources available to us to help make our town an attractive investment destination and look forward to a mutually beneficial relationship with Cox Engineering.”
The Company’s $9 million investment includes the purchase of the building, renovation costs and machinery. BDS assisted in securing a Special Tax Assessment (STA) to help reduce the Company’s current and future real estate taxes over a six-year period. Cox Engineering plans to retain 140 full-time jobs, create 20 new jobs and revitalize a vacant building in Randolph.
“Lynn and the BDS team worked diligently with Randolph officials and the state to help us navigate and access these substantial tax incentives,” states Cox Engineering CEO Jon Desmond. “The savings will enable us to expand, invest in high skill and high wage new manufacturing jobs and pave a path for our future.”
“The Town of Randolph is incredibly pro-business and embraced the benefits of helping to secure a new home for Cox Engineering,” noted BDS President Lynn Tokarczyk.
Cox Engineering expects to complete renovations and relocate its operations by the end of this year. The Company is one of more than 100 businesses in Massachusetts that have expanded their operations and realized tax savings with the assistance of BDS since the consulting company’s 2003 founding. In turn, these companies continue to keep the Massachusetts economic engine humming by creating and retaining jobs and investing in their local communities.
About Cox Engineering
Business Development Strategies, Inc. (BDS) is a leading Massachusetts government tax incentives consulting firm. Since its inception in 2003, BDS has worked with growing companies across a wide spectrum of industries to help identify, negotiate and secure government tax incentives to accelerate their real estate expansion plans. Over the past 14 years, BDS clients have made more than $1 billion in investments in Massachusetts and realized close to $100 million in collective tax savings. For more information, visit www.businessdevelopment-strategies.com