MASSACH USETTS Of FICE Of BUSINESS DEVELOPMENT

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARLES D. BAKER
GOVERNOR ANNUAL REPORT
KARYN E. POLITO
UEUTENANT GOVERNOR

Calendar Year 2016 Annual Report: Crane Stationery LLC

1. Project Information
Business Name: Crane Stationery LLC
FEIN Number: 461035589
Municipality of Project: North Adams
Date of Project Approval by the EACC: 3/26/2013
Category of Project: STA Only
Full-Time Permanent Employment at
Proj ect Location as listed in application 206
materials:
Full-Time Permanent Employees to be
transferred from other Massachusetts
Locations to Project Location: ____________________________________

Total Full-Time Existing Jobs to be

206
Retained at the Project Location:
Full-Time Permanent Jobs to be Created
at Project Location: ____________________________________

Duration of Local Incentive (Years): 5

2. Contact Information
Contact Name: Susan Rivard
Address: 1466 Curran Highway
City: North Adams
State: MA
Zip Code: 01247
Telephone Number: (413) 664-2256
Extension:
Email Address: srivard(crane.com

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 MAssAcli USETTS OFF ICE of BUSINESS DEVELOPMENT

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARLES S. BARER
GOVERNOR ANNUAL REPORT
KARYN E. POUTO
LIEUTENANT GOVERNOR

3. Full-Time Permanent Employment at Project Location

Total Full-Time Permanent Employees
(headcount) at the Project Location per the 206
Job Chart and Workforce Analysis Plan:_
Total Full-Time Permanent Employees
(headcount) as of 12/31/2016 at the Project 256
Location:
Total Full-Time Permanent Employees
hired in Caleitdar Year 2016 (and 25
currently employed at project location):
Of the total FuLl-Time Permanent
Employees (headcount) at the Project
175
Location, how many of these employees
live in the municipality of the project?
4. Full-Time Permanent Employment in Massachusetts
Total Full-Time Permanent Employees in
Massachusetts at the time of Project $07
Approval on 3/26/2013:
Total Full-Time Permanent Employees in
256
Massachusetts as of 12/31/2016:
5. Investment at Project Location
Expected Total Investment as listed in5000000
Project Application:
Total Calendar Year 2016 Investment at
$398572
Project Location:
Total Investment at Project Location since
Project Approval on 3/26/2013 through $5,794,704
12/31/2016:

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 MAssAdu USLTTS OFFiCE OF BUSINESS DEVELOPMENT

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARLES D. BAKER
GOVERNOR ANNUAL REPORT
KARYN E. POUTO
LIEUTENANT GOVERNOR

6. State Benefits (If Applicable)

If your company did not receive a Massachusetts EDIP tax credit please enter 0 for the
following questions.
Approved Total Economic Development
Incentive Program Investment Tax Credit
Award (to be taken in years according to
the EDIP-ITC Utilization Schedule):
Approved Economic Development
Incentive Program Investment Tax Credit SO
Award for Calendar Year 2016:
Amount of EDIP Investment Tax Credit to
be Claimed for Calendar Year 2016: SO .00
Total Amount of EDIP Investment Tax
Credit that has been taken from Project $0.00
Approval on 3/26/2013 through 12/31/2016:
7. Local Benefits (If Applicable)
Please report on the FISCAL YEAR for this section only. If your company did not receive a
local incentive, please enter 0 for the following questions.
Type of Local Incentive Received: STA
Duration of Local Incentive: 5
Years remaining for the projects local tax
1
benefits:
Fiscal Year 2016 Property Taxes Paid to533
608 00
Municipality:
Fiscal Year 2016 Property Taxes
$33,608.00
Exempted (due to TIF or STA):
Total Property Taxes Paid to Municipality
Since Project Approval on 3/26/2013: S33,608.00
Total Property Taxes Exempted (due to
TIF or STA) Since Project Approval on $281,620.00
3/26/2013:

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 Miiss,icit usicis On icn on BusiNEss DEVELOPMEN 1

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARLES 0. BAKER
GOVERNOR ANNUAL REPORT
KARYN F. POUTO
LIEUTENANT GOVERNOR

8. Project Status
Please provide detailed information on the status of the project to date including, but not
limited to: a) Information on construction and purchases (real property and equipment), b)
Status of job creation commitments c) Changes in company presence in Massachusetts and
d) Any further information you would like to supply.
The company became a standalone, employee owned company as of
January 1, 2016 (hence the decrease in MA employees in section 4,
which no longer includes MA employees who worked in other divisions
of the previous company). In order to become standalone, money was
invested into new computer hardware and software. The company
emained on the JD Edwards MRP platform but moved to its own
ersion of the software. Toward the end of the year, the company
invested in PDA software and devices as an upgrade to order processing
)y the sales force and has begun replacing all the data collection portals
on the manufacturing floor in an effort to better capture the transactional
hrough-put of our product.

Me continue to involve all employees in Process Excellence projects to

improve efficiency and effectiveness on the manufacturing floor. Lean
)Ull processes have been successful in the personalized product side of
the business and are now being implemented on the boxed side of the
)usiness as well.

Ve continue to invest in new albums in order to provide our customers

with fresh and innovative product offerings.

1s part of this migration away from the former corporate entity, the
company established its own accounting, HR and IT departments,
rmgmg additional jobs to the facility. We invested in new payroll
software and time collection devices to streamline time card and payroll
rocessing.

Lastly, the company brought in 2 new digital 4-color presses on lease to

expand its digital printing presence in the marketplace.
9. Authorization
I, Susan Rivard, hereby attest and certif, under the pains and penalty of perjury, that the
information I have provided within the 2016 EDIP Annual Report is true to the best of my
knowledge, and that such information accurately and completely reflects the Certified
Projects total number of full-time permanent employees and the total investment at the
project location. I also certify that a copy of the 2016 EDIP Annual Report has been
recorded with City/Town in which the Certified Project_is located.
By checking this box and submitting, you
agree to the above:

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 ____________________________________

MASSIIC1JUSETTS OFFICE OF BUSINESS DEVELOPMENT

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARLES 0. BASER
GOVERNOR ANNUAL REPORT
KARYN K. P0100
UEUIENANT GOVERNOR

Calendar Year 2016 Annual Report: Greylocks Works, EEC

1. Project Information
Business Name: Greylocks Works, LLC
FEIN Number: 47422328$
Municipality of Project: North Adams
Date of Project Approval by the EACC: 6/22/2016
Category of Project: TIF Only
Full-Time Permanent Employment at
Project Location as listed in application 0
materials:
full-Time Permanent Employees to be
transferred from other Massachusetts
Locations to Project Location:
Total Full-Time Existing Jobs to be
0
Retained at the Project Location:
full-Time Permanent Jobs to be Created
0
at Project Location:
Duration of Local Incentive (Years): 10
2. Contact Information
Contact Name: Salvatore Perry
Address: 20 Renwick Street
City: _New York
State: NY
Zip Code: 10013
Telephone Number: (646) 336-6950
Extension:
Email Address: sal@latentnvc.com

Page 1 of 4
 Miissncn UsEr is OFFICE OF BUSiNESS DEVELOPJIENT

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARLES 0. RAKER
GOVERNOR ANNUAL REPORT
KARYN E. POUTO
LIEUTENANT GOVERNOR

3. Full-Time Permanent Employment at Project Location

Total Full-Time Permanent Employees
(headeount) at the Project Location per the 0
Job Chart and Workforce Analysis Plan:
Total Full-Time Permanent Employees
(headcount) as of 12/31/201 6 at the Project 4
Location:
Total Full-Time Permanent Employees
hired in Calendar Year 2016 (and 4
currently employed at project location):
Of the total Full-Time Permanent
Employees (headcount) at the Project
Location, how many of these employees
live in the municipality of the project?
4. Full-Time Permanent Employment in Massachusetts
Total Full-Time Permanent Employees in
Massachusetts at the time of Project 0
Approval on 6/22/2016:
Total Full-Time Permanent Employees in
Massachusetts as of 12/31/2016:
5. Investment at Project Location
Expected Total Investment as listed in8524000
Project Application:
Total Calendar Year 2016 Investment at
$1400592
Project Location:

Total Investment at Project Location since

Project Approval on 6/22/2016 throttgh $684,558
12/31/2016:

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 ______________________________
_________________________________
______________________________

MASSACHUSETTS OFF iCE Of BUSINESS DEVELOPMENT

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARlES D. BAKER
GOVERNOR ANNUAL REPORT
KARYN E. POUTO
LIEUTtNANT GOVERNOR

6. State Benefits (If Applicable)

If your company did not receive a Massachusetts EDIP tax credit please enter 0 for the
following questions.

Approved Total Economic Development

Incentive Program Investment Tax Credit
Award (to be taken in years according to
the EDIP-ITC Utilization Schedule):
Approved Economic Development
Incentive Program Investment Tax Credit $0
Award for Calendar Year 2016:
Amount of EDIP Investment Tax Credit to
$0 00
be Claimed for Calendar Year 2016:

Total Amount of EDIP Investment Tax

Credit that has been taken from Project $0.00
Approval oit 6/22/2016 through 12/31/2016:
7. Local Benefits (If Applicable)
Please report on the FISCAL YEAR for this section only. If your company did not receive a
local incentive, please enter 0 for the following questions.

Type of Local Incentive Received: TIF

Duration of Local Incentive: 10
Years remaining for the projects local tax
10
benefits:
Fiscal Year 2016 Property Taxes Paid to28
796 00
Municipality:
Fiscal Year 2016 Property Taxes
$0.00
Exempted (due to TIF or STA):
Total Property Taxes Paid to Municipality
$16,790.00
Since Project Approval on 6/22/2016:
Total Property Taxes Exempted (due to
TIF or STA) Since Project Approval on $0.00
6/22/2016:

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 ___________

MASSACU USEtTS Of IJCE Of BUSINESS DEVELOPMENT

ECONOMIC DEVELOPMENT INCENTIVE PROGRAM (EDIP)

CHARLES D. RAKER
GOVERNOR ANNUAL REPORT
KARYN E. POUTO
LIEUTENANT GOVERNOR

8. Project Status
Please provide detailed information on the status of the project to date including, but not
limited to: a) Information on construction and purchases (real property and equipment), b)
Status of job creation commitments c) Changes in company presence in Massachusetts and
d) Any further information you would like to supply.
a catalyst of momentum in the Northern Berkshire region,
edevelopment work underway at Greylock Mill includes a robust mix
Df commercial, public and residential programming. In the two and a
ialf years since encountering the property, our development team has
created an ambitious project called Greylock WORKS. Key goals of the
City of North Adams Vision 2030 Plan, broad research, and diverse
egional feedback have been incorporated in the planning process. To
date, over $4 million in private investment has been spent to stabilize
he complex, including planning and design of the entire campus,
)reliminary site clearing, and system upgrades to water, sewer,
sprinkler, electric, heating, and ventilation.

3uilding shell improvements already completed include the replacement

of 125 windows and skylights, over 10,000 Sf of new roofing, masonry
econstruction, and timber structural repairs. Renovations of the 26,000
SF Event Space include new ramped accessible entry points, new
)athrooms, meticulous refurbishment of the wood floor planks, and a
commercial kitchen underway. The project was recently awarded a
MassDevelopment Collaborative Workspace grant, and EPA Brownfield
grant, and a MassWorks grant for extensive site improvements.
9. Authorization
I, Salvatore Perry, hereby attest and certify, under the pains and penalty of perjury, that the
information I have provided within the 2016 EDIP Annual Report is true to the best of my
knowledge, and that such information accurately and completely reflects the Certified
Projects total number of flu-time permanent employees and the total investment at the
project location. I also certify that a copy of the 2016 EDIP Annual Report has been
recorded with City/Town in which the Certified Project is located.
By checking this box and submitting, you
agree to the above:

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