Northborough discusses TIF negotiations for Saint Gobain's project investment

The Town of Northborough held its Annual Town Meeting on May 5, 2025, where key discussions centered around a proposed Tax Increment Financing (TIF) agreement with the global company Saint-Gobain. The meeting highlighted the potential economic benefits of the project, including job creation and increased tax revenue.

During the meeting, representatives from Saint-Gobain outlined their current project status, indicating they are in the design phase and ready to begin negotiations for the TIF as soon as the town is prepared. The company aims to finalize construction designs by fall 2025 and is seeking capital appropriations from its parent company, contingent on local support for the TIF.

John Marr, a resident, emphasized the importance of diversifying Northborough's tax revenue, noting that the investment from a reputable company like Saint-Gobain could alleviate the financial burden on residents. He expressed support for the TIF, highlighting its potential to create approximately 63 direct jobs and an estimated total economic impact of $156 million over five years.

Concerns were raised by other residents regarding the transparency of the TIF process. Lisa Macelli, a former board member, urged for a thorough understanding of the TIF's benefits before proceeding, suggesting that a special town meeting might be necessary to ensure community awareness and trust.

Jack Backstrand questioned the commitment from Saint-Gobain, noting that the TIF negotiations would not guarantee funding from the corporation. He stressed the importance of the town's support in enhancing the company's chances of securing investment.

Residents also inquired about the implications of the TIF on future tax rates. It was clarified that while the town would continue to collect taxes on the current property value, the TIF would only apply to the increase in value resulting from the project, providing temporary tax savings on that increment.

The discussions underscored the town's balancing act between fostering economic development and ensuring community involvement and understanding of financial agreements. The next steps will involve further negotiations and potential community meetings to address concerns and clarify the TIF's impact on Northborough's future.