Weymouth Gives Tax Break for Dutch Company Prodrive

Originally published Dec. 9, 2016.

WEYMOUTH, MA — A Dutch company that plans on opening their American headquarters in Weymouth has received a tax break from the town.

The Weymouth Town Council recently approved a 20-year tax break for Prodrive Technologie and their new headquarters at Union Point, the former South Weymouth Naval Air Station once known as SouthField.

The deal will see Prodrive create 330 jobs over the next five years, with preference given to Weymouth residents; buy from local businesses; and support local schools, which they have started with their sponsorship of the Weymouth High School robotics team, according to the Boston Globe.

According to the Tax Increment Financing agreement, Prodrive will get a 95 percent tax cut for the first five years, eventually going down to 10 percent in the last two.

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