Necco’s Dilemma – If one door closes, others will open

November 3, 2010

You can’t be expected to run a candy company without sugar but this is what the Necco Company has apparently been trying to do for quite some time.

In fact, the future for Revere’s largest employer and taxpayer, looks grimmer than the sugar jar being empty.

About 500 jobs are on the line and a significant property.

If the worst happens, if Necco closes its doors, then the city is left with a costly dilemma.

What to do?

Whomever owns Necco and whomever has the deed to the sprawling property must partner with the city to make certain that Necco or its designees clean the place out and make it immediately marketable for a Lowes or a Walmart or both.

If the city could bring too retailers like this into that space, manufacturing jobs lost could be replaced with retailing and management positions by companies that would pay major property taxes for the commercial space.

In addition, if Necco fails, the build out for two major stores would put hundreds of unemployed craftsmen and women back to work and would aid as well local building suppliers and businesspeople of every kind.

All is not lost if Necco closes its doors.

But the city must be ready to take action immediately to avert a long cessation of tax payments.

In addition, the redevelopment of the huge warehouse would be done with private capital and with no tax deals coming from the city.

The city might have to supply some infrastructure work but then could apply to the state for relief on that end. It’s done in neighboring Chelsea all the time for great projects.

Necco closing isn’t the end of the world.

It is the likely opening up of another one.

  • Gordeehow9

    The problem is most of these companies would rather close and take the loss on their taxes. Until the tax laws change and force companies to downsize instead of closing we will continue to see jobs lost. Necco’s could move into a smaller location like the old Savers-type of size building but its not worth it to them to downsize to stay alive. They can make more money closing and using it as a write off on their taxes and then sell the rights to their product line to a foreign company. So whats the incentive to stay afloat?

  • “If the city could bring too retailers like this”… it’s actually “two”, not “too”. I expect to see stuff like this on Facebook, coming from my friends who barely graduated from high-school, but from a professional “journalist”!!??

    Also, why would anyone put a Wal-Mart there, when there’s already one just across the Revere border in Lynn?

Search the Journal

Full Print Edition

Get Adobe Flash player