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Invensys makes $1M offer - The Sun Chronicle : Local News

Invensys makes $1M offer

Company would make payment to Foxboro over 15-year period - if town waives 65 percent of taxes on renovation

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Posted: Thursday, March 7, 2013 2:31 am | Updated: 2:36 am, Thu Mar 7, 2013.

FOXBORO - Invensys Systems says it will pay the town almost $1 million in new taxes over a 15-year period, even if the town agrees to waive 65 percent of taxes on a $33 million facilities upgrade to keep the company in Foxboro.

That estimated benefit to the town, along with an almost $1.9 million benefit to the company, are contained in material the company submitted to Town Manager Kevin Paicos to begin tax negotiations on the proposed renovation to its Mechanic and Neponset Street facilities.

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