Apparel and footwear maker New Balance is building its first new factory in two decades in Methuen. The new 80,000 square foot facility will create at least 60 new jobs focused on advanced manufacturing techniques and research and development. According to The Boston Globe, the new factory will not be fully built out when it opens sometime this spring, leaving room for the company to grow into the space experiment while experimenting new technologies like sole injection molding, hot melt bonding technology and 3D manufacturing. The Salem News reported that permitting for the new project was completed in 2019.
New Balance is investing $33 million of their own funds into the site but they are receiving some assistance from the state and Methuen. The Commonwealth’s Economic Assistance Coordinating Council awarded an Economic Development Incentive Program tax credit of $900,000 for the project in 2019. The award to New Balance was issued as part of a broader package that included 12 different projects around the state expected to create over 400 new jobs. Methuen approved a ten-year tax property tax break worth $272,000 for the project.
With three plants in Maine, one in Lawrence, and one in Brighton, New Balance employs 1,300 manufacturing workers across New England. Their local suppliers include Dela, a laminate manufacturer in Haverhill, Quabuag Vibram Innovation, a rubber manufacturer based in North Brookfield, Formlabs, a 3D printing manufacturer based in Somerville, and Optiant, an inventory management firm based in Burlington.