GREENFIELD, Mass. (AP) — A high-tech metalworking tool manufacturer in Greenfield has announced a nearly $5 million upgrade that is expected to bring 70 new jobs to the region.
Kennametal Inc. plans to invest $3.4 million immediately on upgrades to the plant, equipment and machinery, as well as another $1.25 million over the next four years.
Greenfield Mayor William Martin tells The Recorder (http://bit.ly/UrVBXN ) the 70 jobs the company plans to add will provide an average income of $75,000 per year.
The Town Council approved a property tax break for the company in May in hopes of enticing it to choose Greenfield for its upgrade plans.
Latrobe, Pennsylvania-based Kennametal bought the Greenfield Tap and Die plant in 1997. Greenfield Tap and Die was founded in 1912.