Keeping Invensys in Foxborough May Come Down to Tax Break

Invensys recently told selectmen it is interested in making a $30 million investment to its existing infrastructure to remain in Foxborough if the town agrees to a tax break program known as a TIF.

Invensys, with roots 104 years old in Foxborough, has expressed “significant” interest to remain in town but needs a Tax Increment Financing (TIF) program approved in order to invest $30 million worth of renovations to existing infrastructure. Steve Sacco, senior vice president of Invensys, informed selectmen last week the company is approaching the end of two building leases in town and has started looking at its options both in and outside of Foxborough. “We’ve started to look at facilities in the area … in Foxborough and elsewhere,” Sacco said. … “Our goal in what we need to do is really provide a modern, attractive workspace for our employees. We currently have vacant and outdated space in our buildings.” Invensys currently operates …

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