FOR IMMEDIATE RELEASE
Contact:
Meghan O’Sullivan
978-264-0707x201 meghan@ocmarketing.com
Juli Burda
Motorola , Inc.
847-538-5625 Juli.burda@motorola.com
Motorola to Move Several Hundred Jobs to Lowell, Massachusetts
Motorola will consolidate five of its Massachusetts office locations to Cross Point Tower and plans to add more than one hundred new jobs to the area
(Lowell, Massachusetts) – October 10, 2006 -- Motorola, Inc. (NYSE:MOT), a Fortune 100 company known around the world for innovation and leadership in wireless and broadband communications, will relocate approximately seven-hundred jobs to Lowell’s Cross Point Tower. Cross Point Tower is located at 900 Chelmsford Street in Lowell and will lease approximately 193,000 square feet to Motorola’s Connected Home Solutions and Network and Enterprise divisions. The move consolidates five of Motorola’s existing Massachusetts locations, making Lowell Motorola’s largest Massachusetts location.
“Motorola is a proud and active participant in the Massachusetts business community,” said Dan Moloney, president of Motorola’s Connected Home business. “We have selected the City of Lowell for our new location because of its skilled workforce, highly-qualified potential hires from area schools and friendly business environment.”
In addition to signing a five year lease with Cross Point Tower, Motorola has also signed a tax increment and finance agreement (TIF) with the City of Lowell. The agreement will provide Motorola with a six figure tax relief package over the course of twenty years. This TIF will be at no additional cost to the City since Motorola’s presence will add approximately $800,000 in new tax dollars over the same time period. In turn, Motorola has agreed to make efforts to hire locally and work with the City in promoting Lowell as a place to reside for relocated employees.
“Having a marque company such as Motorola moving into the City will have tremendous economic impact on Lowell,” says Bernie Lynch, Lowell City Manager. “This furthers Lowell’s reputation as a critical player in the commercial real estate market and positions us for future investment in projects such as the Hamilton Canal District. We are very pleased to welcome Motorola to Lowell.“
After the move, Motorola will become Lowell’s third largest private employer in the city.
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