MIDDLEBORO – Special Town Meeting voters on Monday, Oct. 7 offered strong support for tax breaks for a company looking to relocate its world headquarters to Middleboro. 

Rexa, which is currently located in West Bridgewater, plans to construct a 110,000 square foot building on East Grove Street to house their company. The project would cost $33 million to construct and would create 25 new jobs, with hiring priority given to qualified Middleboro residents, Rexa officials have said.

Town and company representatives negotiated a 10-year tax increment financing agreement, informally known as a TIF, that would allow the company to make reduced tax payments for 10 years. The agreement would give the company a tax break averaging 56% over the length of the agreement.

The town insisted on no more than a 10-year tax break, Town Manager James McGrail told voters. Some agreements can last as long as 20 years, he has said.

Middleboro would still receive nearly $700,000 in new tax revenue over the 10 years, McGrail said. That figure is a conservative estimate, he said, because the tax rate will likely increase over the years.

Other financial benefits would be realized as well, McGrail noted. Spending from employees and company officials will add about $1 million a year to town coffers, according to material provided by the town.

The facility would be a good fit for Middleboro, McGrail said, because the firm focuses on light manufacturing and would not involve heavy truck traffic.

Town officials have said they hope the company’s move to Middleboro will encourage other businesses to do the same.

Voters approved the agreement overwhelmingly and with no discussion.