IPG Photonics receiving investment tax credits

Oxford, Mass. – IPG Photonics Corp. will receive more than $1.7 million in state investment tax credits as it prepares an $18.1 million expansion of its Oxford facility.

The fiber laser company is planning to construct a 101,500-square-foot building to support manufacturing. It will spend $11.8 million on construction costs and another $6.3 million for new machinery and equipment, according to a news release from the state's Executive Office of Housing and Economic Development.

The company's expansion will create 175 new jobs and retain 600 jobs. Oxford is supporting the project by giving IPG Photonics a tax increment financing deal worth $431,000.




Get All the Industrial Laser Solutions News Delivered to Your Inbox

Subscribe to Industrial Laser Solutions Magazine or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Follow us at Join us on

Twitter - Industrial Laser Solutions

RELATED COMPANIES
There is no current content available.

See Article Archive

View Industrial Laser Solutions past articles.

  •  
  •  
  •  
Copyright © 2007-2016. PennWell Corporation, Tulsa, OK. All Rights Reserved.PRIVACY POLICY | TERMS AND CONDITIONS