AYER — The Massachusetts Economic Assistance Coordinating Council has approved L-3 Communications ESSCO’s request for tax credits and deductions, which clears the final hurdle for the company to move into the former Very Fine warehouse on Nemco Way.
The council approved a 5 percent tax credit for the company’s depreciable, tangible assets and a 10 percent tax deduction for costs related to renovating the 261,000-square-foot building, said Bonnie Biocchi, the north central regional director for the council.
The Dec. 17 Special Town Meeting approved a 20-year tax break for the company that gives it an overall savings of 40 percent over that span based on the increased value of the building after a $3 million renovation.
The renovated building will still generate a $750,000 increase in anticipated taxes for the town.
L-3 Communications is a combination of the parent company’s Auburn-based Wolf Coach Inc. and Concord-based L-3 Communications ESSCO Inc. divisions. The company makes radomes, protective domes that surround radar or antenna systems, and mobile telecommunications vehicles for public-safety departments and the military.