Thursday, July 12, 2018
Analog Devices, an international semiconductor company headquartered in Massachusetts, officially broke ground for its new global headquarters in Wilmington yesterday. I was happy to join with Analog Devices’ Chairman and co-founder Ray Stata and other company executives, Jay Ash, Secretary of Housing and Economic Development, members of Wilmington Board of Selectmen and Finance Committee, Town Manager Jeff Hull and others to help the company break ground.
This state-of-the-art facility is a major investment of resources which will create research and development laboratories, manufacturing space, offices, an auditorium as well as dining and fitness facilities. With regional headquarters located in China, Germany, Ireland and Japan the company has 10,000 employees helping them with customers in communications, computer, industrial, military and aerospace, automotive, and consumer electronics industries.
The town’s residents and the Board of Selectmen have voted to approve a Tax Increment Financing Agreement with Analog with terms that are defined by five to eight year terms. The new campus in Wilmington will stimulate the local economy – they are the largest employer in the town, attract high paying jobs, and make advances in new ideas and products.