Chelsea company looking for incentive to move to Lynn

The Daily ItemLYNN – A Chelsea company is considering making a move to Lynn but is looking for a little incentive to do so.”They have asked us for a TIF because they will invest multiple millions of dollars and will bring 100 jobs to Lynn,” said Economic Development and Industrial Corporation Executive Director James Cowdell. “This is really important for the city.”A Tax Incremental Financing, or TIF, is a tax incentive that would give Kettle Cuisine founder Jerry Shafir a break on nearly $10 million Cowdell said Shafir plans on investing in the move. City officials recently drafted a TIF for D’Amici’s Bakery owner Joseph Torretta, who plans to open a downtown commissary and cafe on Sutton Street in February.Founded in 1986 Kettle Cuisine provides fresh, refrigerated soups made from natural ingredients to restaurants and grocery stores. Cowdell said he met with Shafir and Kettle Cuisine’s management team recently and the company is interested in leasing 300,000 square feet of space in the Clock Tower building on the Lynnway.Cowdell called the potential employment possibilities “good paying, solid jobs,” with a well run company that made upwards of $70 million last year.”Chelsea doesn’t want to lose them,” he added. “But at 70,000 they just outgrew their space.”Board member Dominic Ferrari said if done correctly the company could prove to be “a bonanza” for the city. Not only would it provide jobs but Ferrari said he could foresee a possible partnership with Lynn Vocational Technical School as well.Local raw materials, such as a dairy right next door, or the ability to have ingredients shipped right to a nearby pier might also prove to be an incentive, Ferrari noted.”We showed them the master waterfront plan and to their credit they already knew about it,” Cowdell said. “They did their research on Lynn. I really think we’re close.”Board Chairman Charles Gaeta credited Cowdell for aggressively pursuing the company.”He’s gone, hat in hand, knocking on the door,” Gaeta said. “That’s the kind thing we want to see.””We need to push hard to get this,” said board member Ted Smith. “This one’s a winner?it’s exciting.”Chris Stevens can be reached at [email protected].