Berkshire County Banks Offer Incentives To Rail Car Manufacturers

Four Berkshire County banks are offering loans and other financial incentives to help bring a $1.3 billion rail car manufacturing job to the region.

The Boston transit system, the MBTA,  is seeking a location somewhere in Massachusetts to build its upgraded subway cars,  as stipulated by the state government. Once the MBTA chooses a manufacturing company, that company will choose the work site.

John Bissell is with the Greylock Federal Credit Union, one of the participating banks.

“Those of us that have lived here a long time know that these kinds of opportunities don’t come along that often,” Bisell says.  “Anytime there’s an opportunity to get some well paying jobs into the community we want to help increase the odds of making that happen.”

Last month the Pittsfield area, which includes many towns in the Berkshires, was the only economic region in Massachusetts to lose jobs according to the Bureau of Labor Statistics.

In addition to the loans, the city of Pittsfield and its Economic Development Authority are each offering a million dollar bonus to bring the job to Pittsfield.