Westborough Special Town Meeting Coming Up On Olympus Vote

WESTBOROUGH, MA- An upcoming Special Town Meeting will hold a vote to allow the Board of Selectmen to create an Economic Opportunity Area at 800 West Park Drive and to offer and execute a Tax Increment Financing (TIF) Plan/Agreement with Olympus Corporation of the Americas.

The company is planning to move corporate offices and research and development space to Westborough, relocating 400 employees and bringing 25 full-time positions to the area. If accepted the measure would allow the potential expansion to include the property at 1200 West Park Drive.

The Tax Increment Financing Agreement only applies to the incremental increase in value of the applicable property, so there is no tax revenue lost, according to the town.

The vote will be held at 6:30 on Thursday Jan. 10 in the town hall.

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Photo Credit: Renee Schiavone/Patch