Integrated Process Technologies, a Hartford-based process engineering firm, plans to move to Devens next month following the purchase of a 25,000-sf building in the Jackson Innovation and Technology District. The firm expects to convert the property into an office, research and development and manufacturing facility, according to an official with MassDevelopment, which oversees the converted military base, the former Fort Devens. The decommissioned facility is 35 miles northwest of Boston.
Joining Integrated will be Odic Inc., a developer of embedded electronics hardware. Odic will move from its current facility in Westford with the purchase and renovation of a 3,474-sf building at 37 MacArthur Ave.
The relocations come on the heels of Bristol-Myers Squibb Co.'s decision to open a 750,000-sf biomanufacturing facility at Devens within the next three years. The $660-million plant is slated to open in 2009.
MassDevelopment, the state's finance and development authority that is charged with developing the 4,400-acre site, issued a $350,000 loan guarantee to IPT to help finance its relocation. Odic received a $325,000 commercial real estate loan from MassDevelopment to finance the new facility.
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