Money OK'd for sailmaker's move to Salem
SALEM - A state agency yesterday approved a $2.15 million bond allowing Marblehead-based Doyle Sailmakers to relocate to Salem this fall, creating a new product line, moving 34 jobs to Salem and adding six more.
"We welcome the new jobs and the quality craftsmanship with open arms," Mayor Kim Driscoll said. "To attract this kind of quality development and strong business to Salem is a sign that we are moving in a good direction."
The company, which manufactures sails, will use the money to buy a 31,000-square-foot industrial space in Salem, where it plans to start building "lighter-than-air airships" in the next couple of weeks, owner Robert Doyle said.
"We hope to grow the business even more," Doyle said.
Doyle said the relocation fits the company's development plans for various reasons.
"I grew up in Salem, the building seemed suitable, and there is a lot of a labor pool," he said.
Doyle also prefers Salem because it offers more affordable housing for production people than their current Marblehead location.
Most of the company's 34 current employees drive through Salem to go to work every day, and some already live there, Doyle said.
The Massachusetts Development Finance Agency board of directors, meeting in Boston, approved the bond yesterday morning. Adam Bickelman, the agency's director of communications, said the bond issue date and other details will not be available until the closure, which can take from two weeks to four months.
The finance agency's action guarantees a tax-exempt rate that will save the company financing costs, Doyle said. He said the company will invest a significant amount of money beyond the bond but refused to specify the actual sum.
Doyle operates in 30 countries and manufactures sails for yachts, traditional tall ships and America's Cup schooners.
Doyle Sailmakers is one of eight companies planning to move to Salem Commerce Park at 96 Swampscott Road, the former Maynard Plastics site.