New Balance plans to inaugurate a new factory in Methuen, Massachusetts, in 2020. The 80,000-square-foot facility, whose building was purchased in April, will be the American multinational's sixth in New England and its first to open in two decades. It is costing about $33 million. The Boston Globe reports that the state Economic Assistance Coordinating Council will provide $900,000 in state tax credits and the city of Methuen will provide $272,000 in property-tax breaks. New Balance is to create 60 new jobs in exchange. The company employs about 1,300 people in New England, with three factories in Maine and two others in Massachusetts, in Brighton and Lawrence.

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