MassDevelopment Financing Aids E.L. Harvey Expansion
MassDevelopment officials have announced a $5 million financing package for E.L. Harvey & Sons Inc., Westborough, Mass.
Founded in 1911 by Emory Larkin Harvey, the family-owned waste management firm will use the tax-exempt bond proceeds to construct a 46,000-square-foot construction and demolition recycling facility. The new complex is expected to process 275 tons of brick, concrete, steel, wood, asphalt, carpet, gypsum and household recyclables per day.
E.L. Harvey & Sons is a waste hauling, transfer and scrap recycling operation. The company currently employs 200 workers and plans to add 15 new jobs once construction on the expansion project has been completed.
"MassDevelopment is pleased to support E.L. Harvey’s expansion," says Robert L. Culver, MassDevelopment president and CEO. "This project demonstrates that environmental preservation and economic development can go hand in hand." He adds, "Not only will the new facility make marketable products from waste, it will also lift pressure on the commonwealth’s already overtaxed landfills and create new job opportunities in an expanding industry."
Building projects in Massachusetts generate nearly 5 million tons of C&D debris per year. The commonwealth incinerates 43 percent of this material, landfills 19 percent and recycles the remaining 39 percent.
MassDevelopment provides financial tools and real estate experience to stimulate economic growth across Massachusetts. The organization works with businesses, financial institutions and local officials to address the issues affecting economic development.
More information on MassDevelopment and E.L. Harvey is available at www.massdevelopment.com and www.elharvey.com, respectively.
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