Ipsen's Biomeasure to Leave Milford, Sell Maple Street Facility

Ipsen affliate Biomeasure has announced it will transfer its research staff to a facility in another town, and will cancel plans for expansion on Maple Street. The facility will be put up for sale.

Biomeasure, an affiliate of the French drug maker Ipsen, has cancelled an expansion of its facility in Milford, and now plans to sell the property and transfer employees to another town. Its research staff will be transferred to another facility, in another town, the company's treasurer told Milford officials in a letter. The manufacturing staff would remain, under different ownership, if the company sells to another drug manufacturer. The announcement, in a letter to Milford Town Administrator Louis Celozzi, includes a request to cancel the tax increment financing agreement for the company, approved by Milford town meeting representatives in 2012. This TIF provided tax incentives for the company to expand its facility on Maple Street. The…

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Annual Town Meeting 2012

Tax Incentive for Biomeasure Expansion Advances

Biomeasure has accepted an offer from Milford Selectmen that will provide 10 years of property tax reductions on a planned 60,000 square-foot expansion of the Maple Street facility.

Milford Town Meeting voters will be asked to approve a tax incentive for a planned expansion of the Biomeasure facility that town officials say will lead to increased job opportunities. The TIF proposal, or tax increment financing proposal, would provide a 70 percent decrease on the property taxes for the expanded facility in fiscal 2013, gradually decreasing to a 10 percent break by the seventh year of the 10-year agreement. The company, located at 27 Maple St., is a subsidiary of Ipsen. It already has a Tax Increment Financing (TIF) agreement with the town and state, and the new agreement would cover the 60,000-square-foot addition, which will more than double the size of the facility. The value of the expansion is estimated at $40 …

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Biomeasure Plans Expansion in Milford

Biomeasure, a subsidiary of Ipsen, is considering a 64,000-square-foot expansion to its existing facility on Maple Street. The town and company will negotiate on tax incentives.

Biomeasure has announced plans to more than double the size of its Maple Street facility, at an estimated cost of $40 million. Milford Selectmen on Monday authorized the town's administrator and attorney to negotiate with representatives of Biomeasure on local tax incentives that would facilitate the proposed expansion. The company, a subsidiary of Ipsen, already has a Tax Increment Financing (TIF) agreement with the town and state, and is seeking an amendment to that agreement that would cover the new addition. A Tax Increment Financing agreement waives a portion of property tax payments for a specific period, to encourage economic development. In a letter to Town Administrator Louis Celozzi, the company's treasurer said groundbreaking …

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