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first_imgShare this:TwitterFacebookLike this:Like Loading… RelatedSelectmen, Town Meeting To Decide If Analog Devices Will Receive Huge Tax Break To Allow Expansion To Move ForwardIn “Business”NO-BRAINER?: Will Wilmington Approve A Tax Increment Financing Agreement With Analog Devices, Ensuring Town’s Largest Employer Stays Put? (Article 40)In “Business”SELECTMEN NEWS: Town, Analog Devices Reach $5 Million TIF Agreement, Called A “Win-Win” For Residents & CompanyIn “Business” WILMINGTON, MA — Analog Devices, the town’s largest employer, is currently building a new headquarters in Wilmington, with the construction of a 174,000 square foot three-story office building, a 52,000 square foot hub building, a 215,000 square foot three-story parking garage, and the renovations to existing buildings. The total investment is estimated at approximately $157 million.The project was solidified after the town and Analog Devices came to terms on a Tax Increment Financing (TIF) agreement, which was ratified by residents at last year’s Annual Town Meeting. Under the TIF, the town continues to collect 100% of existing real estate tax revenue, but allows for a tax exemption based on the increased assessed value due to property improvements. The tax incentive is a discount on projected future taxes during the life of the proposed TIF.The key terms of the final agreement, as relayed by Town Manager Jeff Hull, include:Tax relief of $4.3 million based on value from new construction only with a maximum duration of eight (8) years whichever comes first;$700,000 to be waived in building permit fees which would be charged on this new construction;TIF to begin in the year in which there is taxable value from construction on the property;Analog commits to create 50 new jobs over five (5) years;Analog committees to relocate 450 employees from their Chelmsford and Norwood facilities to the newly expanded Wilmington campus;Analog commits not to file for a property tax abatement during the life of the TIFMike Errera, Vice President of Supply Chain Planning & Logistics and General Manager of Analog Devices, was recently in front of the Wilmington Board of Selectmen to provide a status update on the project.“We’re right on schedule and budget at this stage,” announced Errera. “We’re excited about getting this done and consolidating our Massachusetts team here in Wilmington.  We feel we made the right choice in terms of coniuting to go long in our presence here in Wilmington. The cooperation with the town and construction folks have been suberb. We appreciate that. We’re looking forward to inviting you out to the ribbon cutting ceremony next year.”Errera noted that the construction of the hub building is expected to be completed this fall/winter, with occupancy expected in February 2020 or March 2020. The new office building is also in the middle of construction, with occupancy expected in the summer of 2020. Norwood employees will be moved to Wilmington at that point. Once new construction is complete, the existing office buildings will be renovated, with Chelmsford employees moving in 2021.Errera showed renderings of the new hub building, which will feature an auditorium, forum space, reception area, gym with yoga studio, and roof deck patio space. The new office building will include meeting space, collaboration areas, huddle rooms, open space, and community space. The buildings and garage also include sustainability measures, including a 1.2 MW roof solar systems and charging stations for electric vehicles. Errera also noted that a partnership with Uber will be formed to transport employees who rely on public transit, transporting them from Anderson Regional Transportation Center in Woburn to the Analog campus.Selectmen were happy to hear the news.“It’s clear you have a lot of exciting things happening at your campus,” responded Selectman Chair Greg Bendel. “We’re glad you chose Wilmington once again.”“The [TIF agreement] was a win-win for both the community and Analog,” added Selectman Kevin Caira. “We’re looking forward to the tour.”“The project looks good. It looks like a college campus,” said Selectman Mike McCoy. “It will attract people throughout the country to come to Wilmington.”“Analog Devices is competing for talent,” agreed Errera. “We’re hiring out of the best schools. It’s not just about the paycheck, but about the destination and vibe.”“Thank you for investing in Wilmington with job creation and job retention, but also what appears to be a really first rate facility,” noted Selectman Jonathan Eaton. “You folks are going to have the ability to attract the best of the best with the facility you’re creating.”“We appreciate all that Analog has done working with the schools and its STEM Fair,” said Selectwoman Jomarie O’Mahony, who asked that Analog invite students to tour the new campus once its complete. “Analog is a great example of a corporate partner with the town. And your campus will add to our town’s beauty.”Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.last_img read more

first_imgSwelling ranks of jehadi fighters in MaldivesThe recent macabre bombing in Sri Lanka has heightened the terror threat for India. India’s deep state has been watching with alarm the swelling ranks of jehadi fighters in Maldives, Sri Lanka and Bangladesh that aim to destabilise India. The vast network of terror organisations operating in the region nurse the hope of establishing a Caliphate in the arc stretching from the Middle East to South East Asia.Their biggest obstacle is the Indian state that has responded with alacrity to any possible terror threat in recent years. This is manifest in the fact that India passed on clear warnings to Sri Lanka days before the Easter Sunday terror attacks that killed more than 250 people.Indian authorities said in 2016 that nearly two dozen radicalised Indian youth had moved to Afghanistan to be part of the Isis wing that focused on spreading its tentacles in a region comprising southern Indian  states, Maldives, Sri Lanka and Bangladesh. This new affiliate was known as the Islamic State-Khorasan Province (IS-KP). This unit was initially headed by Pakistan-based Tehreek-e-Taliban Pakistan (TTP) operatives.In Bangladesh, the current government of Sheikh Hasina is arguably acting in India’s security interests, as she continues to bust terror networks with an iron hand. The fact that Hasina has been able to keep Begum Khaleda Zia, who is closer to Pakistan and China, away from power in Dhaka has been a boon for India.However, Maldives remained a problem for India for more many years, with Yameen taking the country closer to China and undermining India’s traditional influence. In 2017 Maldives became only the second country after Pakistan to sign a free trade agreement with China. Beijing also funnelled funds into Maldives, taking up maritime and infrastructure projects worth billions.Watershed momentWith India’s influence in the archipelago diminishing, the potential terror threat from the pro-Isis cells operating out of Maldives grew. But the watershed moment was the overthrow of the Yameen government with the help of exiled ex-president Mohammad Nasheed, who was ably supported by New Delhi. Supporters of Maldivian joint-opposition presidential candidate Mohamed Solih celebrate in MaldivesreutersIt has been reported that Prime Minister Narendra Modi’s first foreign tour in his second term will be to Maldives. The choice of Maldives over high-profile capitals has great symbolic value inasmuch as how Modi shapes up two major foreign policy themes going forward  — India’s security challenges and dealing with the threat from China.Maldives, which lies just 700 km across the Lakshadweep islands, has a unique distinction. Going by the per capita norm, the tiny archipelago nation with a population of 400,000 people was the biggest contributor of foreign fighters to the Islamic State (Isis) terror movement in Iraq and Syria. As many as 450 radicalised Maldivians had travelled to the Daesh hotspots in the Middle East.Scores of these jehadi fighters have since then returned to Maldives, posing security challenges not only to the island nation but neighbouring countries like India. Even before the Isis attracted a wave of fighters from Maldives, the Pak-sponsored Lashkar e-Taiba (LeT) had hatched a plan to make Maldives an active link in the chain — alongside Sri Lanka, Bangladesh and Malaysia — that encircles India. IBTimes VideoRelated VideosMore videos Play VideoPauseMute0:02/1:04Loaded: 0%0:02Progress: 0%Stream TypeLIVE-1:02?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading … Immediately after Modi’s visit to Maldives, Reuters reported that the country was planning to withdraw from the free trade pact with China. India also offered a $1.4 billion financial package for Maldives.China’s influence in Maldives cannot be rolled back in a day but it’s highly important for India to engage Maldives creatively. On the security front, increasing Indian footprint in Maldives will greatly help in defusing the anti-India cells gaining influence in that country.The fact that Modi has decided to travel to Maldives at the very beginning of his second term augurs well for India’s immediate security interests in the region.center_img Close TINA syndrome in play as Modi wave sweeps India; ‘There Is No Alternative’ to BJPlast_img read more