Greenfield's Valley Steel Stamp Expands Thanks to MassDevelopment Bond
MassDevelopment has issued a $1.45 million bond on behalf of CJBW Stamp LLC, a realty entity created to own and lease a 22,000-square-foot manufacturing facility in the Greenfield Industrial Park, Greenfield MA, to Valley Steel Stamp. CJBW will use bond proceeds to build a 5,000-square-foot addition to the building, which will house new equipment. Bond proceeds will also pay off a previous MassDevelopment bond, which helped purchase and renovate the facility. The company expects to create five jobs as a result of this project. GBS Securities purchased the bond.
"Precision machine shops form the backbone of western Massachusetts's manufacturing sector, which employs almost 40,000 workers," said MassDevelopment President and CEO Marty Jones. "We're pleased to support small, family-owned companies like Valley Steel as they expand their businesses and hire more employees."
Founded in 1971, Valley Steel Stamp is a family-owned company that specializes in complex machined components. The company's product line includes general machining and tooling for customers in the aerospace, defense, and firearm industries. Valley Steel's 34 highly-skilled employees serve more than 500 customers in more than 20 countries.
MassDevelopment, the state's finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2011, MassDevelopment financed or managed more than 300 projects generating investment of $3.8 billion in the Massachusetts economy. These projects are projected to create more than 10,000 jobs (2,547 permanent and 8,129 construction), and build or rehabilitate more than 1,000 residential units.