FOR IMMEDIATE RELEASE

October 13, 2010

Contact:
Bryan W. Taberner, AICP
Director of Planning and Community Development
355 East Central Street
Franklin, MA 02038-1352
Phone: 508-520-4907
Email: btaberner@franklin.ma.us

Town of Franklin’s 2010 Economic Development Summit: Business

Expansion and Retention within Franklin’s Economic Opportunity Areas
In its continued efforts to attract and retain businesses the Town of Franklin is holding an
economic development related event at 8:30 a.m. on October 27, 2010 at 431
Washington Street in Franklin. The primary purpose of the event is to inform property
owners and commercial real estate companies with available property within the Town’s
Economic Opportunity Areas that there are resources available to assist them. The
secondary purpose is to assist with marketing of these properties and our business
friendly community in general. We want the commercial/industrial site selection world to
look to the Town of Franklin first when looking to site a facility.
This gathering of property owners, business owners and managers, State officials,
commercial property realtors, and others in the site selection field, will discuss ways in
which available incentives can be used to stimulate economic activity within the Town of
Franklin’s six Economic Opportunity Areas and Town’s other industrial and commercial
areas. Property owners and realtors attempting to lease or sell a commercial or
industrial property within the Town of Franklin are being asked to bring marketing
materials to display and distribute at the event.
As part of the event (Resources for Massachusetts Business Development)
representatives from state agencies and other economic development related
organizations will introduce themselves and discuss potential resources that they may
have available. These organizations include Massachusetts Office of Business
Development, MassDevelopment, Massachusetts Alliance for Economic Development,
and Massachusetts Biotechnology Council.
With the sluggish economy the Town of Franklin needs to utilize all economic
development incentives available to it in order to assist companies looking to settle or
expand in the region. One of the most attractive incentives that a Massachusetts city or
town can offer businesses looking to locate or expand in their community is a Tax
Increment Finance (TIF) agreement. To qualify for tax increment financing a business
must propose an expansion project within an Economic Opportunity Area.
As a member of the I-495/95 South Regional Economic Target Area, the Town of
Franklin can designate specific parcels as economic opportunity areas. During 2009 the
Town of Franklin created three large economic opportunity areas, which were approved
by the State’s Economic Assistance Coordinating Council in April 2009. Earlier this year
Franklin Town Council approved creation of three additional economic opportunity areas;
the Town expects approval from the Economic Assistance Coordinating Council during
November 2010. The six economic opportunity areas consist of 100 parcels totaling
over 945 acres.
Currently there are at least 1,000,000 square feet of vacant or underutilized buildings in
Franklin’s commercially and industrially zoned areas, most of which are within the
Town’s six economic opportunity areas. This vacant property includes the majority of
the 242,000+ square feet of floor space at 431 Washington Street, which is the former
home of the Investor Services Division of Putnam Investments. The property’s
management company, Marsh and McLennan Companies, has graciously agreed to
host the Town’s 2010 Economic Development Summit at their 431 Washington Street
facility.
The community’s industrially zoned areas are home to dozens of research and
development and manufacturing companies, and Franklin has attracted innovative
technology companies in a wide range of industries, including nanotechnology, robotics,
logistics, data storage, medical devices, biotechnology, and specialty materials. Franklin
hopes to use the economic opportunity area designation as an incentive to encourage
these existing businesses to expand, as well as to attract new businesses, promote a
higher level of investment in the Town’s commercial and industrial areas, increase
employment options for the Town of Franklin’s residents, and increase the Town’s
commercial and industrial tax base.
The potential benefits resulting from the formation of these economic opportunity areas
are substantial not only for property owners and businesses within the economic
opportunity areas, but also for the Town of Franklin and the region in general. A tax
increment finance agreement is a 5 to 20 year property tax exemption based on the
increased value of the property due to new construction or significant improvements.
The municipality supports the use of Tax Increment Financing agreements, especially for
development projects that create livable wage jobs, support innovative technologies, and
result in redevelopment of empty or underutilized industrially zoned properties or
development of new facilities.
In addition to the possibility of negotiating a tax increment finance agreement with the
Town of Franklin, potential economic benefits for companies within economic opportunity
areas can be significant, including an investment tax credit for qualifying tangible
depreciable assets, as well as a ten-percent abandoned building tax deduction for costs
associated with the renovation of a building that has been at least seventy-five percent
vacant for two or more years.
Franklin is continually looking for ways to create conditions favorable for business
expansion, and assist property owners fill the Town’s currently empty or underutilized
industrially zoned manufacturing, warehouse and office space. The Town is hopeful
expanding businesses will take advantage of these opportunities.
Please contact Planning and Community Development Director, Bryan Taberner, if you
have questions or require additional information regarding the Town of Franklin’s
economic opportunity area initiative, or the Economic Development Summit being held
on October 27th.
Attachments:
Map of Franklin’s Existing and Proposed Economic Opportunity areas
Economic Development Event Invitation and Agenda
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 You’re Invited to
The Town of Franklin’s 2010
Economic Development Summit:
Business Expansion and Retention within
Franklin’s Economic Opportunity Areas
October 27, 2010, 8:30 a.m.
431 Washington Street, Franklin, MA
(Former Home of the Investor Services Division of Putnam Investments)

As a member of the I-495/95 South Regional Economic Target

Area, the Town of Franklin can offer businesses wishing to locate or
expand a local tax incentive through tax increment financing.
To qualify for tax increment financing a business must propose
an expansion project within an Economic Opportunity Area. During
2009 and 2010 the Town of Franklin created six large Economic
Opportunity Areas, totaling over 945 acres on 100 parcels.
Please join us for a gathering of property owners, business
owners and managers, State officials, commercial property realtors
and others in the site selection field, to discuss ways in which
available incentives can be used to stimulate economic activity
within the six Economic Opportunity Areas and Franklin’s other
industrial and commercial areas.

RSVP by October 22, 2010 to

Bryan Taberner, Director of Planning & Community Development
at 508-520-4907 or btaberner@franklin.ma.us.
 The Town of Franklin’s 2010
Economic Development Summit:
Business Expansion and Retention within
Franklin’s Economic Opportunity Areas
October 27, 2010, 8:30 a.m.
431 Washington Street, Franklin, MA
Event Program
8:30 a.m. Registration, Networking, Coffee
9:00 a.m. Welcome
John P. Hughes, Vice President, Marsh & McLennan Companies
Scott Mason, Chair, Franklin Town Council
Representative James Vallee
Senator Richard Ross
Senator Karen Spilka
9:20 a.m. Franklin’s Economic Opportunity Areas
Bryan W. Taberner, AICP, Director of Planning and Community Development
9:30 a.m. EACC, ETAs, EOAs and TIFs: The Language of EDIP
Rich Pellagrini, Regional Director, Massachusetts Office of Business Development
9:50 a.m. 9 Forge Park Economic Opportunity Area
Robert Roche, President and CEO, Tegra Medical
10:00 a.m. Resources for Massachusetts Business Development
Rich Pellagrini, Regional Director, Massachusetts Office of Business Development
Bonnie H. Sullivan, Senior Vice President, MassDevelopment
Rob Anderson, Director of Marketing and Member Services, Massachusetts Alliance for
Economic Development
Peter Abair, Director, Economic Development, Massachusetts Biotechnology Council
10:40 a.m. Available Commercial and Industrial Properties
11:00 a.m. Last Words
Jack Lank, United Regional Chamber of Commerce

Note: There will be an optional tour of the 431 Washington Street facility after the
Economic Development Summit.
 Franklin Wants
Your Business
The Town of Franklin is a growth community with a pro-business environment, a low stable single tax rate, streamlined
permitting processes, ample industrial land, modernized infrastructure, excellent municipal services, well educated work force,
diverse housing opportunities and a great quality of life.

Research-Development-Manufacturing
Franklin’s industrially zoned areas are home to dozens of research and
development and manufacturing companies, and have attracted innovative
technology companies in a wide range of industries, including nanotechnology,
robotics, logistics, data storage, specialty materials, life sciences - biotechnology,
medical devices, and pharmaceuticals. Great Location
New Business Welcome Located within a 30 mile radius of
Franklin are Boston, Providence and
Franklin is continually looking for ways to attract new businesses, most recently Worcester, New England’s 3 largest cities,
by creating six large economic opportunity areas and rewriting the Town’s zoning and approximately 100 colleges and
bylaw in order to streamline the permitting of biotechnology facilities. universities, which include many of the
best research and engineering universities
In 2008 Town of Franklin was named number ten out of the top one hundred
in the country.
places to “Live and Launch a Business” by Fortune Small Business Magazine.
Our business community enjoys good
Economic Target Area transportation networks with two MBTA
commuter rail stations, two exits off of
Franklin’s designation as an Economic Target Area (ETA) gives businesses Interstate 495, and close proximity to I-90
access to Federal Recovery Zone Facility Bonds, State incentives including and I-95.
investment tax credits, and a local tax incentive through Tax Increment
Financing agreements. Why Franklin?
The municipality supports the use of Tax Increment Financing agreements,  Business Friendly Community
especially for development projects that create livable wage jobs, support  Low Single Tax Rate
innovative technologies, and result in redevelopment of empty or underutilized
 Proximity to Major Cities
industrially zoned properties or development of new facilities.
 Economic Target Area
 Well Educated Work Force
One of the “Ten Best Towns”  Proximity to Universities
 Economic Opportunity Areas
Named one of Family Circle’s 2007 "Ten Best Towns for Families" in the
and Tax Increment Financing
United States. This honor was bestowed on Franklin and nine other towns and
 Priority Development Sites
small cities "that offer what parents and children want most - affordable homes,
good jobs, top-rated schools, open spaces and a lot less stress". and Streamlined Permitting
 Great Quality of Life
Contact Us
Franklin is truly the complete package. If you’re looking for a Many opportunities
great location to start, expand, or relocate your business, please contact:
await your business,
employees and
Bryan Taberner, Director of Planning & Community Development
their families.
at 508-520-4907 or btaberner@franklin.ma.us.