Key Takeaways
- Massachusetts has awarded $21.2 million in state tax credits to VulcanForms, a metal additive manufacturing company, to support the construction of a one million square foot manufacturing facility in Devens, Massachusetts.
- The facility is expected to create 1,063 new jobs and increase output for various industries, including aerospace, defense, medical, and industrial.
- The investment is part of a $52 million package to support business expansion in the state, with VulcanForms receiving the largest award.
- The company's planned Devens campus will be one of the largest manufacturing investments centered on metal additive manufacturing in the United States.
Introduction to VulcanForms and Massachusetts' Investment
Massachusetts has made a significant investment in the future of industrial 3D printing, awarding $21.2 million in state tax credits to VulcanForms, a leading metal additive manufacturing company. This investment is part of a larger $52 million package aimed at supporting business expansion in the state. VulcanForms plans to use the funding to construct a one million square foot manufacturing facility in Devens, Massachusetts, which is expected to create 1,063 new jobs.
Comparison of Manufacturing Facilities
| Facility | Location | Size | Jobs Created |
|---|---|---|---|
| VulcanForms | Devens, Massachusetts | 1 million sqft | 1,063 |
| Other Manufacturing Facilities | Various | N/A | N/A |
A Factory Built Around Additive Manufacturing
VulcanForms already operates advanced manufacturing facilities in Massachusetts, and the new Devens expansion will become another major production site. The company has built its business around manufacturing finished metal parts at production scale, and the new campus will allow it to increase output for various industries, including aerospace, defense, medical, industrial, and consumer applications.
Program Details
The Massachusetts Economic Development Incentive Program is a performance-based program, with the $52 million representing state tax credits, not direct funding. In return, the 11 companies receiving funding, including VulcanForms, are expected to invest more than $1.4 billion of their own money into new facilities, equipment, and expansion projects across Massachusetts, while creating and retaining thousands of jobs.
Bottom Line
The investment in VulcanForms marks a significant milestone in Massachusetts' push to become a hub for industrial 3D printing. With the construction of the new manufacturing facility, VulcanForms is poised to become a leading player in the metal additive manufacturing industry, creating new jobs and driving economic growth in the state. The success of this project will likely have a ripple effect, attracting other companies to the region and solidifying Massachusetts' position as a leader in the industry.