Bond supports C&D recycling facility project.

MassDevelopment has announced the closing of a $12 million tax-exempt bond issue for Devens Recycling Center LLC (DRC) at a groundbreaking ceremony.

DRC, state and elected officials joined local business leaders at the 11-acre site in Devens' West Rail Industrial Park to mark the development of a 91,000-square-foot construction and demolition (C&D) recycling facility and transfer station. When fully operational, DRC will process 1,500 tons of brick, concrete, steel, wood, asphalt, carpet and gypsum daily. DRC officials anticipate a July 2007 opening, and plans call for 70 new employees to be hired during the next three years.

Robert L. Culver, MassDevelopment president and CEO, says, "Devens Recycling Center demonstrates that environmental preservation and economic development can go hand in hand. This project will result in significant job creation, while making marketable products from waste and lifting pressure on the commonwealth's already overtaxed landfills."

Building projects in Massachusetts generate nearly 5 million tons of C&D debris annually, according to MassDevelopment, much of which (43 percent) is incinerated. Of the remainder, 19 percent is landfilled, and 38 percent is recycled.

DRC planners say they designed the facility to be an industry leader, incorporating the latest state-of-the-art recycling technology.

MassDevelopment, the state's finance and development authority, works with businesses, financial institutions and local officials to stimulate economic growth across Massachusetts. Between FY 2004 and FY 2006, MassDevelopment financed or managed 589 projects statewide representing an investment of more than $4 billion in the Massachusetts economy. These projects are supporting the creation of 5,505 housing units and more than 23,000 jobs: 12,381 permanent and 10,679 construction-related.