IPG Photonics receiving investment tax credits

Dec. 28, 2011
Oxford, Mass. – IPG Photonics Corp. will receive more than $1.7 million in state investment tax credits as it prepares an $18.1 million expansion of its Oxford facility.

Oxford, Mass. – IPG Photonics Corp. will receive more than $1.7 million in state investment tax credits as it prepares an $18.1 million expansion of its Oxford facility.

The fiber laser company is planning to construct a 101,500-square-foot building to support manufacturing. It will spend $11.8 million on construction costs and another $6.3 million for new machinery and equipment, according to a news release from the state's Executive Office of Housing and Economic Development.

The company's expansion will create 175 new jobs and retain 600 jobs. Oxford is supporting the project by giving IPG Photonics a tax increment financing deal worth $431,000.


About the Author

Industrial Laser Solutions Editors

We edited the content of this article, which was contributed by outside sources, to fit our style and substance requirements. (Editors Note: Industrial Laser Solutions has folded as a brand and is now part of Laser Focus World, effective in 2022.)

Sponsored Recommendations

Optical Power Meters for Diverse Applications

April 30, 2024
Bench-top single channel to multichannel power meters, Santec has the power measurement platforms to meet your requirements.

Request a quote: Micro 3D Printed Part or microArch micro-precision 3D printers

April 11, 2024
See the results for yourself! We'll print a benchmark part so that you can assess our quality. Just send us your file and we'll get to work.

Request a Micro 3D Printed Benchmark Part: Send us your file.

April 11, 2024
See the results for yourself! We'll print a benchmark part so that you can assess our quality. Just send us your file and we'll get to work.

Request a free Micro 3D Printed sample part

April 11, 2024
The best way to understand the part quality we can achieve is by seeing it first-hand. Request a free 3D printed high-precision sample part.

Voice your opinion!

To join the conversation, and become an exclusive member of Laser Focus World, create an account today!