The fate of the New Business Park which could tempt TripAdvisor back to Needham will be decided by the end of the day, as Needham's Special Town Meeting takes a vote on the tax increment financing (TIF) program proposed by the Selectmen.
At 7:30 p.m., Town Meeting will discuss and vote on Article 1: to Approve a Tax Increment Financing Plan and TIF Agreement. The warrant is available on the town website, or to the right.
The town aims to redevelop an area along Route 128, a process which began in 2007, and to create a business park. TripAdvisor should be their first big catch, and town officialls hope it will cause other tech companies to flock to town.
TripAdvisor will be bringing 450 jobs from their Newton offices, and have committed to adding 50 jobs a year for the first five years. The company expects to grow faster than that.
Beyond that, at the previous Board of Selectmen's meeting, representatives from TripAdvisor estimated the company and its employees spend around $3.5 million on local businesses.
Town Meeting meets at 7:30 p.m. tonight at Needham Town Hall.