Business & Tech
Perkin Elmer Expands Hopkinton Campus After TM Approval
At the Annual Town Meeting last month, voters decided to allow the town to enter in an agreement with PerkinElmer allowing them to pay a discounted tax rate for several years.

Waltham based life science company PerkinElmer will be expanding their Hopkinton operation after voters approved a Tax Increment Financing agreement at Town Meeting.
The expansion was announced just two days after the Board of Selectmen officially signed off on the tax agreement.
According to a press release from PerkinElmer , the new site will add 100 workers to the company's location on Elm Street.
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"The mission of the Center will be to create new enabling technologies for scientists developing and commercializing new diagnostic and therapeutic products. Located at the Company’s facility in Hopkinton, Massachusetts, the Center will expand to a total of 350 employees and is projected to be fully operational by late 2012."
According to the article the agreement will start at a 90 percent reduction to the property taxes; with that amount decreasing so that at the end of 13 years PerkinElmer will be paying their full value of property taxes.
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Based on conversations the property value of that over the 13 years there would be an additional $900,000 in property taxes collected by the town, half of what the totally tax bill would be if the agreement did not exist.
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