Hardline Heat Treating Inc., Southbridge, Mass., announces that Southbridge city council has approved a ten-year tax increment financing (TIF) agreement that will allow the company to invest $3.2 million and add ten jobs to its 36-person workforce. It will spend $1 million to purchase the two buildings it occupies, pay $1.8 million for construction, and $400,000 for new equipment, according to company president, Robert Chalue.
The company thermally treats metals to improve wear, toughness and aesthetics, has 36 employees and operates from 134 and 73 Ashland Ave., in a combined 18,000 square feet. The company plans to first expand and renovate one building from more than 25,000 square feet to more than 41,000 square feet. Then it will do the same for the second building, at least a year after the other building is completed and operational.
The tax exemption schedule would be 100 percent the first two years, 70 percent in years 3 and 4, 50 percent in years 5 and 6, 40 percent in year 7, 30 percent in year 8, 20 percent in year 9, and 10 percent the final year of the agreement.
