SalemNews.com, Salem, MA

Business

October 10, 2012

Biotech gets foothold

US Biological builds big facility here, hopes to attract more

(Continued)

“It was a big gamble,” he said. “I didn’t have any tenants in mind when I did it.”

USBio, with 30 employees, is clearly the anchor of this burgeoning biotech community.

The company describes itself as “a world leader in the manufacture and distribution of antibodies and biochemicals used in research laboratories and production facilities.” Its customers include universities and biotech labs.

The larger space will allow the company to take on larger projects, Shore said.

USBio made a $7 million investment in Salem with financing help from a state agency, MassDevelopment, and financial incentives from the city of Salem, which gave the company a TIF, or tax increment financing, deal to help draw them here.

Under the deal, the company pays a base tax bill, but gets a break on future growth. It is estimated that USBio will save $190,000 over 13 years, while the city will collect more than $750,000 in new tax revenue over that same period.

The move to a larger space is also expected to create more jobs.

Shore is confident USBio will keep growing, and not just because it is a world leader in its field. It also has a secret weapon.

Continuing a tradition begun in his Texas days, Shore gives customers his own brand of hot salsa — free salsa — with every order.

“People get hooked on it,” he said with a grin. “They have to buy more chemicals to get more salsa.”

Tom Dalton can be reached at tdalton@salemnews.com.

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