Company seeks to build $33 million manufacturing site in Middleboro

MIDDLEBORO — A manufacturing company hopes to construct a $33 million project, including a 110,000 square foot building, on land across from Trucchi’s on West Grove Street, Town Manager James McGrail told select board members at their July 1 meeting.

Rexa Inc, which manufactures electronic component and valves for industrial use to companies worldwide, has reached out to the town to seek possible tax relief for the project through tax increment financing, commonly known as a TIF.

Because of “increased customer demand,’’ the company would like to “expand its real estate footprint’’ and relocate its current operations in West Bridgewater to the Middleboro site, according to a letter from the company signed by Director of Finance Kenneth J. Garron.

The $33 million investment would include $6.6 million for land, $19.8 million for hard and soft construction costs, and $6.9 million for personal property, the letter stated. The company plans to retain 100 full-time jobs and create 25 new permanent full-time jobs over a five-year period as a result of this project, Garron wrote in the letter.

When the West Grove Street land was considered by the town for industrial use, this was the kind of business that was envisioned, McGrail said. Once one business builds on the site, others will likely follow, he said.

Select Board member Brian Giovanoni suggested the town reestablish a committee to review tax increment financing agreements. Similar agreements with other projects have required that Middleboro residents be given preference to fill available jobs, he noted as an example of terms that can be negotiated.

McGrail noted that the town’s law firm advised hiring a consultant to review the specifics of any tax increment financing agreement that might be developed for the Rexa project. He said he hopes to “get someone on board quick’’ to tackle that.

He stressed the project was in its early stages and that there will be “more to come’’ as the issue proceeds.