COMMUNITY ADVOCATE – The City Council has approved a seven-year tax increment financing agreement (TIF) requested by Candela as it plans to move to vacant space at 251 Locke Drive. Candela is planning to move its headquarters and research and development operations from Wayland to Marlborough this year.
Candela is planning to bring 200 jobs to the Marlborough space and add 50 new jobs by 2020 and an additional 50 jobs by 2022, according to documents the company submitted to the state’s Economic Assistance Coordinating Council.
The global aesthetic device company plans to lease 50,000 of the nearly 160,000 square feet at 251 Lock Drive. The entire building has sat vacant since Verizon moved out of the facility. Candela has stated that it intends to spend $5 million in in capital expenditures to build out the space to meet its needs and will move $1.5 million in research and development related equipment from Wayland.
“Investment in Marlborough means new job opportunities for our residents and additional tax revenue to ensure that the tax burden does not fall solely on our residents,” said Mayor Arthur Vigeant in a letter to the City Council.
Candela’s technology allows for doctors to perform procedures including body contouring, hair removal, wrinkle reduction and tattoo removal.
The company does business is nearly 100 countries with offices in France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan, and Hong Kong.
This article originally appeared here.