Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

Everett

$5.3 million bond helps fund expansion

Continue reading below

MassDevelopment recently issued a $5.3 million tax-exempt industrial development bond to assist an Everett company with an expansion project. The bond was issued on behalf of Cubi Realty LLC, a real estate holding affiliate of Cumar, a manufacturer of fine architectural stone. Cumar will use the proceeds to purchase and renovate 72,000 square feet of space in an industrial building on Norman Street. The company currently occupies and leases 40,000 of the 72,000 square feet, and its manufacturing space will expand into the remaining 32,000 square feet. The project is expected to create 15 jobs. “Without MassDevelopment’s help, we would not be able to put the resources necessary towards funding this expansion,” Angelo Ivo Cubi, Cumar’s owner, said in a statement. “We are eager to start the renovations and get our new manufacturing facility up and running.” MassDevelopment is the state’s finance and development agency.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com