Massachusetts Backs VulcanForms' Metal 3D Printing Expansion with $21.2M Tax Credits
Massachusetts has awarded over $21.2 million in tax credits to metal additive manufacturing company VulcanForms, supporting its plan for a large-scale production facility in Devens.
Massachusetts is making a significant investment in industrial 3D printing, with the state's Economic Assistance Coordinating Council awarding more than $21.2 million in tax credits to VulcanForms. This funding is part of a broader $52 million package aimed at supporting business expansion across the state. The incentives are designated to help VulcanForms establish a manufacturing facility of up to one million square feet in Devens, Massachusetts, a move projected to create 1,063 new jobs.
This award represents the largest allocation within the current funding round, which encompasses 11 business expansion projects. The focus on VulcanForms signifies a commitment to large-scale manufacturing powered by metal 3D printing, rather than solely research or pilot programs. VulcanForms currently operates advanced manufacturing facilities in the state and aims to increase its output for sectors including aerospace, defense, medical, industrial, and consumer goods.
The Economic Development Incentive Program, through which the tax credits are provided, is performance-based. The 11 companies involved are expected to collectively invest over $1.4 billion in new facilities and equipment, with VulcanForms' Devens campus being a substantial part of this investment. State officials view this as a strong indicator of their confidence in additive manufacturing's potential to drive economic returns and job creation.
This development follows VulcanForms' recent successful private funding round of $220 million, intended to scale its manufacturing platform. The company has also recently bolstered its leadership team, appointing former Relativity Space executive Michael Kenworthy as its new Chief Technology Officer. Kenworthy's experience at companies like GE Aviation and Divergent is expected to be instrumental as VulcanForms prepares for its next growth phase, with the Devens facility marking a pivotal step.
This substantial state backing for VulcanForms highlights the growing recognition of additive manufacturing's role in scaling industrial production. The significant tax credits incentivize the creation of a large-scale metal AM facility, aligning with broader U.S. efforts to strengthen domestic manufacturing and supply chains. Such investments are crucial for advancing AM's capabilities beyond prototyping to mass production of critical components for sectors like aerospace and defense.
Edited by the news editor with AI from the original report — please refer to the original source.