Cabot Corporation (NYSE: CBT) has been named as a bronze winner for the Team Massachusetts Economic Impact Awards, awarded annually by MassEcon (Massachusetts Alliance for Economic Development). The awards celebrate companies that have made an outstanding contribution to the Massachusetts economy. The winners from each region will be recognized at an awards luncheon on November 20 th at the Seaport Hotel in Boston. Over 400 are expected to attend, including featured speaker Governor Deval Patrick.
Cabot Corporation earned this prestigious award due to its recent $10 million capacity expansion project at its Haverhill, Massachusetts, inkjet facility. This expansion resulted in a 30 percent increase in production staff and doubles the production capacity of Cabot’s CAB-O-JET® small molecule color and polymer-attached pigment dispersion lines. The project is instrumental in supporting Cabot’s growth in the emerging office segment of inkjet printing, as well as the commercial inkjet printing market.
“We are honored to be recognized for impacting the local Massachusetts economy through our plant expansion and job creation in Haverhill,” said Patrick Prevost, President and Chief Executive Officer, Cabot Corporation. “Massachusetts has been our home for 130 years and it’s been a great place for us to grow our businesses and attract some of the best talent. We look forward to further growth as we identify new opportunities to meet future customer and market needs.”
“The key to our economic recovery is innovation, and these Team Massachusetts Impact Award winners exemplify that innovative spirit,” said Greg Bialecki, the Secretary of Housing and Economic Development. “Continuing to support and grow the innovation economy is one of the central goals of the Patrick-Murray Administration's economic development plan, and we look forward to seeing these companies continue to grow in the future.”MassEcon selected the winners based on job growth, facility expansion, and investment since January 1, 2011, as well as other criteria including community involvement. Finalists competed on a regional basis, defined as West, Central, Southeast, Northeast, and Greater Boston.