MassDevelopment Issues Bond
Malden, MA – MassDevelopment has issued a $10 million tax-exempt bond on behalf of 35 Green Street LLC, an affiliate of Hoff’s Kitchen Co., Inc.
Also known as Hoff’s Bakery, the company will use bond proceeds to acquire and renovate a 100,000sf building, creating a state-of-the-art food manufacturing plant that will support the efficiency, quality, and food safety needs of the bakery. The new manufacturing plant will be in Malden, an economic target area and Gateway City.
“Hoff’s Kitchen Co. is a major contributor to the Massachusetts food industry,” said Marty Jones, MassDevelopment president and CEO. “MassDevelopment is pleased to support this deal as Hoff’s Kitchen expands and creates jobs — and more delicious desserts — in the commonwealth.”
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“Our experience with MassDevelopment has been truly amazing and beyond our expectations, the assistance from start to finish has been very helpful and comprehensive,” said Vinny Frattura, Hoff’s Kitchen Co., Inc. president and owner. “With the help of bond financing we will have a state of the art facility triple our size in square feet and have the ability to more than double our production capacity. It takes us from a strong regional player to the national stage.”
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth.
