November 5 2015

Informational Meeting on TIF Agreement

By: Rich Hosford

Town Meeting members and interested members of the public are invited to an information meeting about a proposed tax agreement with a business looking to move to town. 

 

As reported on BNEWS, there will be a special Town Meeting on Monday, November 16. The only article will be for a Tax Increment Financing (TIF) agreement with EMD Millipore

 

To help members understand the agreement and get the details, there will be an informational meeting on Tuesday, November 10 from 5 to 6:30 p.m. in the main hearing room at Town Hall, a notice from Town Clerk Amy Warfield states. 

 

Note: BCAT will be taping the meeting and airing it throughout the week as well as hosting on our website for those who cannot attend. 

 

The full release from the clerk’s office: 

 

“EMD Millipore the life science business of Merck KGaA Darmstadt, Germany, has plans to build in Burlington. The global organization offers a broad spectrum of proven tools and technologies, together with new innovative solutions innovations, dedicated to helping customers succeed in the research, development and production of biotechnology and pharmaceutical drug therapies.

 

Merck KGaA, Darmstadt, Germany, is a leading science and technology company in healthcare, life science and performance materials. Around 40,000 employees work to further develop technologies that improve and enhance life – from biopharmaceutical therapies to treat cancer or multiple sclerosis, cutting-edge products and systems for life science scientific research and production, to liquid crystals for smartphones and LCD televisions.

 

The proposed project would benefit Burlington in many ways: bringing a leading global life science company to Burlington; generating new tax revenue for the Town; retaining and relocating 400 jobs to the community and enhancing economic development in the community.

 

The organization is in the process of applying for Tax Increment Financing (TIF) from the Town which will come before Special Town Meeting on November 16, 2015 for approval.

 

We hope you will attend this Public Information Session to learn more about this exciting project!”

 
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