is a leading global non-surgical aesthetic device company whose technology enables physicians to provide advanced solutions for a broad range of medical aesthetic applications, including body contouring, hair removal, wrinkle reduction, tattoo removal, women’s intimate health, improving the skin’s appearance through the treatment of superficial benign vascular and pigmented lesions and the treatment of acne, leg veins and cellulite.
The Economic Assistance Coordinating Council must also approve the agreement.Ĭandela Corp.
#CANDELA CORP FULL#
The committee will provide a recommendation to the full council, which will then vote on the deal. The City Council is slated to discuss the deal at its meeting Monday and will likely refer the matter to the Finance Committee for review. Marlborough has 13 active tax increment financing deals, seven expired agreements and five decertified agreements. Fifty more employees will be hired by June 2022, company officials wrote in a letter to the City Council.Ĭity officials project Marlborough will receive about $120,000 more in tax revenue over the seven-year period than if the property remains vacant.
#CANDELA CORP UPGRADE#
“By leasing space at 251 Locke Drive, Candela Corporation will be the first tenant in that facility in many years the facility has long been vacant and the building owners have been working hard to upgrade the facility and attract new tenants,” Mayor Arthur Vigeant wrote in a letter to the City Council.Ībout 200 employees will relocate from Wayland to Marlborough and an additional 50 will be hired by June 2020 under the terms of the proposed tax increment financing deal.
Candela will invest about $5 million in capital expenditures on the facility and bring about $1.5 million in research and development capital equipment from its Wayland location on Boston Post Road. The company – founded in 2000 – plans to lease 50,000 square feet of 159,703 square feet of space in a vacant building at 251 Locke Drive and is seeking a seven-year tax increment financing (TIF) deal with Marlborough, according to documents filed with the city. MARLBOROUGH – Candela Corp., a global medical device company, is planning to relocate its corporate headquarters and research and development operations from Wayland to Marlborough next year.
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