MARLBOROUGH (CBS) – Quest Diagnostics of New Jersey has signed a letter of intent to lease the property for its new Northeast Clinical Lab. If finalized, Quest will be moving more than 950 jobs into part of the complex while creating about 250 new positions.
Michael Barry in Marlborough’s Mayor’s office says the city is providing a big tax break to Quest and on the cost of improvements it will be making.
Barry says the current climate is a competitive one, and tax breaks can be one of the tools communities use to entice businesses to relocate or expand.
Barry tells me that Quest will have a big impact in the area. He says it will be a boon to Marlboro’s economy, and a big help to area small businesses.
Quest will invest $75 million to build its northeast laboratory facility at the former Hewlett-Packard complex.
Quest will relocate employees who now work at its clinical lab in Cambridge and its Athena Diagnostics lab in Worcester to the Marlboro site.
The company says it will take up to 2 years to make the full transition.