Thursday, May 23, 2013
By Kelley Bouchard email@example.com
CUMBERLAND — Maine Standards, a biotech firm in Windham with 52 employees, plans to move to Cumberland next year.
An artist's rendering of proposed new headquarters for Maine Standards Co.
Courtesy of Port City Architecture
The Planning Board approved a site plan on Tuesday night that will allow the company to build a $3 million to $5 million facility on Route 1 near Powell Road, said Town Manager Bill Shane.
Town officials enticed the company with a 50 percent tax break for the next 20 years, capped at $500,000, Shane said.
Alyssa Tibbetts, the town's economic development director, negotiated the agreement.
The company, which develops products that calibrate laboratory equipment, plans to add about 25 employees in the next three to five years, Shane said.
The town has an active economic development program focused on growing its commercial tax base from 4 percent to 10 percent in the next decade.
Construction of the new plant is expected to start this summer and take about one year.