MassEcon Announces Finalists For Ninth Annual Team Massachusetts Economic Impact Awards

MassEcon has announced that Cabot Corporation (NYSE: CBT), a global specialty chemicals and performance materials company, has been named among nineteen finalists from across the state for the Team Massachusetts Economic Impact Awards, awarded annually by MassEcon. The awards celebrate companies that have made an outstanding contribution to the Massachusetts economy. These finalists, representing companies from the Merrimack Valley to the Pioneer Valley, presented one-minute elevator pitches describing their growth in the Bay State to a panel of judges and business leaders on September 12, 2012 at the UMass Club in Boston. Secretary of Housing and Economic Development, Greg Bialecki, was the featured guest at the event.

“As the state makes its way through economic recovery, we’re thrilled to recognize the businesses in Massachusetts that are expanding such as Cabot Corporation,” said Susan Houston, Executive Director, MassEcon. “Our finalists demonstrate that growth in the Commonwealth is not limited to one region or one industry. We are fortunate to have such a diverse group of companies contributing to the prosperity of Massachusetts.”

Cabot Corporation was chosen because of 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 further supports Cabot’s growth in the emerging office segment of inkjet printing, and the commercial inkjet printing market.

“We are proud that our plant expansion and job creation have helped support Massachusetts’ economic health and has been recognized by MassEcon,” said Julie Planchet, general manager, Cabot inkjet colorants. “This expansion presents a new opportunity to further grow our inkjet business and meet our customers’ needs in growing markets such as commercial printing. It also showcases our commitment to continuing to grow in Massachusetts.”

MassEcon selected the finalists based on their job growth, facility expansion, and investment since January 1, 2011, as well as other criteria including community involvement. Together this year’s finalists have added over 2,000 jobs to the Commonwealth, invested nearly $250 million, and expanded their facilities by more than 1.5 million square feet since January 2011. Finalists compete on a regional basis, defined as West, Central, Southeast, Northeast, and Greater Boston. From the pool of finalists, a gold, silver, and bronze winner will be selected from each region.

“Our world-leading innovation economy is driven by entrepreneurial companies like the Team Massachusetts award finalists and other companies like them around Massachusetts,” Greg Bialecki, the Secretary of Housing and Economic Development added. “The Patrick-Murray Administration appreciates the investment these firms are making in our economy and our long-term economic development plan prioritizes the innovation economy in an effort to help these companies succeed.”

The companies chosen as finalists for the 9th ANNUAL TEAM MASSACHUSETTS ECONOMIC IMPACT AWARDS are listed below.

WEST: Polymer Corporation – Palmer Savage Arms – Westfield Thing5 – Springfield

SOUTHEAST: Aquabotix – Fall River Cheer Pack – West Bridgewater Lacerta Group – Mansfield Sysco Boston LLC – Plympton

NORTHEAST: Acme Packet – Bedford Cabot Corporation – Haverhill EMD Millipore – Billerica Pharmalucence – Billerica Thermo Fisher Scientific – Tewksbury

CENTRAL: Classic Envelope – Douglas IPG Photonics Corporation – Oxford Quiet Logistics -- Devens

GREATER BOSTON: Boston Heart Diagnostics – Framingham Brightcove – Boston Pegasystems – Cambridge Vecna Technologies – Cambridge

About Cabot Corporation

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is the world’s No. 1 producer of rubber and specialty grade carbon black, activated carbons, inkjet colorants and cesium formate drilling fluids and has market-leading positions in fumed silica, aerogel, and elastomer composites. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.

About MassEcon

MassEcon, founded in 1993, is a non-profit, non-partisan entity that serves as the state’s private sector partner in promoting Massachusetts as the premier choice for business growth. Its services include the state's only Site Finder Service, which helps expanding and relocating companies find appropriate sites throughout the Commonwealth; the Research & Information Service, which provides companies with the information they need to evaluate the Commonwealth as a location to grow; and the Massachusetts Ambassadors, a network of civic and corporate leaders who help market Massachusetts as a place to do business.

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