Mayor Linda Tyer is seeking USD 580,000 from the Pittsfield Economic Development Fund to help LTI Smart Glass expand its business
Mayor Linda Tyer is seeking USD 580,000 from the Pittsfield Economic Development Fund to help LTI Smart Glass expand its business.
The Committee on Community and Economic Development voted unanimously to recommend the move to the City Council, which is expected to vote on the matter later this month or early in October.
Just as it's important to recruit new companies to Pittsfield, Tyer said, it's also important to support businesses already in the city.
"This is exactly what we should be doing with Pittsfield's resources and incentives," Tyer said in a statement. "Advanced manufacturing businesses like LTI are employing people, producing products, contributing to the economy, and paying taxes."
LTI is a world leader in weaving high-tech acrylics and polymers to create safer glass for use in government buildings, tinted glass for hospitals, and decorative glass for architectural projects.
The expansion plan for LTI, which currently employs 100 people, includes an addition of about 17,000 square feet to the company's existing facility on Federico Drive. In a letter to councillors, Tyer said the USD 2.5 million capital investment would result in 38 additional jobs for the city by the end of 2019. A portion of the requested funds — USD 200,000 — will be awarded if the company is able to create 50 new jobs by 2022, in addition to the 38 already promised.
In the letter, Tyer said the proposed package of incentives includes a cash payment upon completion of the project in lieu of e...
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