Pitco a tax loss for Bow, Pembroke

Monitor staff
Published: 11/21/2021 10:12:41 PM

Pitco Frialator’s decision to consolidate its operations in Concord is an economic win for the city, but it also comes at the expense of neighboring towns Pembroke and Bow.

Pitco occupied a 200,000 square-foot storage facility on Sheep Davis Road in Pembroke and paid about $145,000 a year in taxes.

In Bow, Pitco maintained its administrative offices on Route 3A near Blue Seal feeds. The company paid the town about $40,000 a year in taxes, according to Town Administrator David Stack.

“The buildings will remain so there is still value,” said Stack. “There is potential for those properties to be redeveloped. I can understand why they’d want it all under one roof.”

Pitco, which manufactures commercial food fryers, is set to begin construction on a new 356,000 square foot facility at 15 Integra Drive in Concord, consolidating its presence in three different communities to one.

The new building includes offices, manufacturing and warehouse space and will hold about 400 employees. Pitco believes this move will expand its capacity to serve its global customers.

Concord Mayor Jim Bouley praised the decision, noting his excitement for the upcoming development.

“The City has worked closely with the company to make this development a reality,” he said in a statement. “This project is a win not only for Concord but also keeps a growing manufacturing business in New Hampshire safeguarding hundreds of local jobs.”

According to Pitco Vice President and General Manager Karl Searl, Pitco wanted to remain in the Granite State and support its labor force and quality worksmanship.

Stack remains optimistic that the commercial buildings will retain their value even after Pitco departs.

It’s true Bow will lose tax revenue, but the amount that Pitco paid was a tiny fraction of the $32.48 million in tax revenue collected by the town annually. Pitco isn’t the only business Bow is losing to Concord. Earlier this year, the Grappone auto group announced that its Mazda dealership was moving from Route 3A in Bow to Manchester Street in Concord.

Stack remains confident in Bow’s business retention.

One major success Stack cited was the retention of Matt Brown’s Truck Repair, a full-service body shop located in Bow. After Matt Brown’s Truck Repair outgrew their former space, they needed something larger.

“They outgrew their space, so they built a new facility,” said Stack. “We try to work with the businesses we have and we do what we can to retain them.”

Pembroke Town Manager David Jodoin did not respond to multiple requests for comment.

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