OECD

The Middleborough Office of Economic and Community Development (OECD) was created by the Town's Board of Selectmen in September of 1998.  The primary responsibility of this office is to apply for, implement and administer Economic and Community Development Block Grant Programs for the Town of Middleborough.  The OECD is also responsible for business advocacy, commercial district revitalization, retail development, industrial attraction and retention, infrastructure improvements and tourism development.  The office is staffed with a full-time Executive Director and a full-time Administrative Assistant, fully qualified in the field of economic and community development.  Office hours are Monday - Friday 7:30 a.m. to 4:30 p.m.

The Town of Middleborough is one of only 36 designated Economic Opportunity Areas (EOA) in the state of Massachusetts.  This designation allows Middleborough to offer a variety of state and local financial incentives to industries or businesses interested in locating in its community.  The range of financial savings available vary depending on the size of the project, amount of capital investment, job creation, use and corporate residency.  The following incentives are available:

STATE INVESTMENT TAX CREDIT - A 3% investment tax credit is available to any manufacturer or research and development company located in Massachusetts.  The credit applies to buildings, structural components, personal and other property.  Companies will also be eligible for Investment Tax Credit on any purchases in subsequent years.  A business could benefit from the 5% investment tax credit for tangible personal property used in certified projects within an Economic Opportunity Area.  BENEFITS:  (a) Reduces capital cost, (b) Reduces ax obligation, improves cash flow of business.  The unused portion of the credit can be carried forward to future years.

LOCAL SPECIAL TAX ASSESSMENT - This is a five year program covering both existing and new value of the real estate.  In year one, the tax is zero percent of the existing and new assessed value of real estate.  In year two, up to 25% of the assessed value is taxed.  In year three, up to 50% of the assessed value is taxed, in year four, up to 75% of the assessed value is taxed.  And in year five, up to 100% of the assessed value is taxed.

LOCAL TAX INCREMENT FINANCING (TIF) - Without raising taxes or using any current revenue, TIF serves as a public financing tool to assist economic development projects.  The Town of Middleborough agrees to "freeze" taxes at an established level for an agreed upon number of years from 5 to 20 years.  TIF will pass the savings on to property owners for use in project development, while ensuring that the development risk is borne by those parties as well.  A TIF plan, subject to state approval, describes proposed public and private investment in a TIF area, and is agreed upon by the Town and all private lend owners in the Economic Opportunity Area.  The Town agrees to a tax exemption based on a percentage of the value added through new construction for an agreed number of years (not to exceed 20 years).  BENEFITS: (a) tax stability for 5 to 20 years. (b) agreement negotiated between the municipality and the certified project.

There are currently five industrial parks located in the Town of Middleborough totaling over 700 acres.  They include Abbey Lane Industrial Park (19 acres), Campanelli Business Park (188 acres), Middleborough Park (112 acres), South Middleborough Industrial Park (161 acres) and Southpointe  Corporate Park (230 acres).  All of these parks are readily accessed by interstate Routes 495 and 95 to route 44.

Three of these parks (Middleborough Park, Campanelli Business Park and Southpointe Corporate Park) are located within an EOA and are zoned Development Opportunity Districts, which allow them to offer significant financial incentives to businesses considering locating in their parks.