$19.38 MassDev. bond to five manufacturers; will create 84 new jobs

MassDevelopment released a low-cost industrial development bond financing for five manufacturers. Hazen Paper Co.; Universal Plastics Corp.; Argotec, Inc. of Greenfield; Petricca Industries of Pittsfield; and VCA, Inc. of Northampton will share $19.438 million in tax-exempt bonds purchased by TD Banknorth, Sovereign Bank and the Bank of Western Mass. Together these projects will create 84 jobs.   Hazen Paper will use $6 million to purchase equipment and create 43 jobs. Argotec will use $5 million to purchase and renovate a 60,000 s/f building and add 35 jobs. Petricca will use $4.5 million to construct a 22,100 s/f building, purchase equipment and create 39 jobs. Universal Plastics will use $2.288 million to construct a 35,000 s/f addition and create 14 jobs. VCA will use $1.650 million to construct a 20,000 s/f facility at MassDevelopment's Village Hill Northampton project and create eight jobs.