New Markets Tax Credit Coalition

  • Salem,
  • MA
  • (2022)

Tropical Products

District: Seth Moulton (D-MA06)

The acquisition and construction of a 2-story, 99,724 sq. ft. manufacturing and warehouse facility creates jobs in Salem.

Investment

  • NMTC Amount: $20,000,000
  • Total Project Cost: $24,875,000

IMPACT

  • 125 FTE jobs
  • 38 construction jobs
  • The project also retains a total of 58 existing jobs.
  • 99,724 sq. ft. of real estate

CDEs

Investor

Project Description

The acquisition and construction of a 2-story, 99,724 SF manufacturing and warehouse facility to be used as the principal place of business of Tropical Products in Salem, MA. The project will allow Tropical Products to more than double their existing capacity, from 7 production lines to 20 upon completion, resulting in the creation of a significant number of new jobs during the ensuing few years.

External Profile

MAP

Address: 373 Highland Avenue, Salem, MA 1970

Census Tract: 25009204701

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