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Print Edition StoriesThursday, August 28, 2008
PremaTech Advanced Ceramics expands employee and facility size
By Mass High Tech Staff
Worcester-based PremaTech Advanced Ceramics is planning to double its number of employees and to move from its 12,000-square-foot location to a 26,900-square-foot facility across the street at the Worcester Airport Industrial Park, according to published reports.
The company plans to pay $1.45 million, plus an additional $1 million in renovations, for the location at 160 Goddard Memorial Dr., the Worcester Business Journal reported. Over the next five years, it also plans to double its employee size to 85.
The real estate deal followed several years of PremaTech executives looking for a Worcester location to move its employees to when the December lease expired at its current location.
The Massachusetts Development Finance Agency is providing a $1.6 million bond, through TD Bank, to assist in financing the relocation. PremaTech, according to the WBJ article, planned to stay in Worcester to accommodate its employees, and it received support from the Choose Worcester organization, National Grid, the airport commission and MassDevelopment.
PremaTech Advanced Ceramics is a division of PremaTech LLC, based in Pittsburgh.
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