For now....
"Schneider Electric to open R & D center in Andover" by Erin Ailworth | Globe Staff, April 26, 2013
Schneider Electric, a multinational energy management company, is investing tens of millions of dollars to build a global research and development center in Andover by the end of this year.
About 730 people, relocated from existing Schneider facilities in Massachusetts, will work in the 235,000-square-foot R&D center when it opens in December. Schneider executives said they expect to steadily increase employment there in coming years....
Barry Coflan, a senior vice president at Schneider. “They tend to be professional jobs, high-tech kind of jobs [that bring] a lot of stability and economic prosperity into the region.”
Schneider, based in Paris, generated about $30.8 billion in revenue last year and has some 140,000 employees in more than 100 countries.
Its selection of Andover as one of five research and development centers is another example of how the state’s culture of innovation, its standing as a technology center, and its highly educated workforce are attracting foreign investment....
I'm sick of the industry brochure being presented as news.
The facility is being financed in part by government incentives, including a five-year tax increment financing agreement with Andover valued at $1.2 million, a state investment tax credit for $285,000, and a one-year, 10 percent corporate income tax deduction for the cost of renovating the building....
Aren't there enough well-connected interests feeding at the Massachusetts taxpayer trough?
--more--"
Time for me to eat something.
