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Textile Manufacture 23 Farrar Street Relocates-Plans Lynn, Massachusetts, Operations

23 Farrar Street LLC, a textile manufacturing business and affiliate of Soliyarn Inc., plans to establish its headquarters and production facility in Lynn, Massachusetts. The project is expected to create 84 jobs over the next three years.

Currently based in Boston’s North End and Charlestown neighborhood Soliyarn will buy and renovate the former 18,000-square-foot Sterling Machine Company building located at 23 Farrar Street.

“We are very excited about the move to Lynn,” said Soliyarn President and CEO Adrian Beach. “The support from all external stakeholders, the City of Lynn, Reading Cooperative, and the Commonwealth has been humbling for us. The culmination of these efforts in the upcoming Soliyarn facility at 23 Farrar Street really illustrates the concept that it takes a village and we’re all in this together. We look forward to being contributing partners in this community.”

As an incentive MassDevelopment issued a $3.3 million tax-exempt bond to assist the company in its expansion and guaranteed the expansion. Reading Cooperative Bank purchased the bond, which helped Soliyarn achieve a lower cost of capital.

“The Commonwealth’s Gateway Cities feature attractive opportunities for manufacturers looking to expand operations or relocate facilities,” noted Secretary of Economic Development Yvonne Hao, who serves as chair of MassDevelopment’s Board of Directors. “MassDevelopment’s flexible financial solutions can help businesses make the jump into a new location that spurs growth and creates jobs.”

Soliyarn was formed in 2018 based on an invention by Chief Scientific Officer Trisha Andrew, Ph.D., a University of Massachusetts Amherst professor of chemistry. The company is revolutionizing the advanced functional fabric and smart wearables industry by leveraging Chemical Vapor Deposition technology to create textiles with unprecedented heating, sensing, and liquid-repellent functionality.

“This project will bring an innovative textile company and quality manufacturing jobs to the Gateway City of Lynn,” added MassDevelopment President and CEO Dan Rivera. “MassDevelopment is proud to team up with Reading Cooperative Bank to provide a low-cost financing solution for Soliyarn to make the company’s new HQ and production facility a reality.”

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