Ken’s Foods received $600,000 in Economic Development Incentive Program investment tax credits yesterday for a $23 million expansion to its Marlborough facility.
“These EDIP investments will help these small businesses expand here in the Commonwealth and is part of our overall economic development strategy that will help make our businesses and communities stronger in the long-term,” said said Housing and Economic Development Secretary Greg Bialecki.
Founded in Massachusetts in 1941, Ken’s Foods is the largest privately-owned salad dressing and sauce manufacturer in the United States. The company markets its products under Ken’s Steak House Salad Dressing, Ken’s Labels, Sweet Baby Ray’s, Sticky Fingers and private labels for Paul Newman and others.
An estimated private investment of $23 million go towards equipment and building improvements to repurpose existing warehousing space for manufacturing and packaging operations in Marlborough. The project will create 30 new full-time jobs and retain 438 full-time jobs at the Marlborough location.
The city of Marlborough is supporting the project with an 18-year Tax Increment Financing agreement valued $24,004.
The project is on of 17 projects approved by the Economic Assistance Coordinating Council Wednesday in the Economic Development Incentive Program.
The projects are expected to create 1,341 new jobs and retain 4,099 existing jobs, in addition to leveraging over $417 million in private investment and supporting construction projects across the Commonwealth.