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A Middleton manufacturer has received an $8,775,000 tax-exempt bond from MassDevelopment in order to purchase a new, under-construction industrial building to house its operations. TD Bank purchased the bond.
The 88,400-square-foot industrial building at 177 North Main St. in Middleton is near Salem Metal Inc.’s current facility. The company will not use all of the building, leaving 18,400 square feet available for lease.
Established in 1970, 65-person Salem Metal Inc. specializes in the fabrication of precision sheet metal and machined components. The company’s new facility at 177 North Main St. will feature custom fabrication including laser cutting, punching, machining, forming, welding, painting, silk screening and value-added assembly services.
“It was a pleasure working with MassDevelopment in securing a tax-exempt bond to help finance our new state-of-the-art facility,” Salem Metal President Jason Vining said in a statement. “We look forward to Salem Metal’s continued growth and success in the years ahead and appreciate the state’s efforts in supporting small business.”
