Northampton, MA – MassDevelopment has issued a $1,798,720 tax-exempt bond on behalf of Eric Properties LLC, an affiliate of the manufacturing company Chartpak, Inc., which will use proceeds to buy an 82,058sf manufacturing building at 120 River Rd. in Northampton’s Leeds Village.
Eric Properties will lease most of the building to Chartpak, Inc., with the remaining space leased to two unrelated manufacturing companies. This facility will provide Chartpak, Inc. with additional manufacturing space needed to accommodate increased sales. The company expects to create an additional 10 new jobs in the next three years. Country Bank for Savings purchased the bond, which MassDevelopment enhanced with a guarantee.
Chartpak, Inc. was founded in Connecticut in 1949 as a graphic arts supply manufacturer for architects, graphic artists, engineers, and draftsmen.