Raymond Business & Technology Park
In the fall of 2003, the EDIC invested $3,000,000 to acquire twenty acres (including a 10,000 square foot building) in North Falmouth. The EDIC acquired the site because it is one of the last Light-Industrial zoned properties in Falmouth. Also, a consideration was that the owner, Benthos Corporation, needed capital to restructure to avoid moving its operation or shutting its doors. The loss of Benthos Corporation operations in North Falmouth would have resulted in the loss of over 100 jobs in the area. Since the EDIC acquired the site, Benthos Corporation has been able to reverse its fortunes and was acquired last year by the Teledyne Corporation. Benthos Corporation is now expanding operations on its existing campus and plans to double employment over the next few years.
The Falmouth EDIC subdivided the aforementioned site, now known as Raymond Business and Technology Park, into ten lots and constructed a system of interior roadways and utilities. Six lots have been sold and are being developed. The EDIC has retained ownership of three lots, which are being reconfigured for maximum density prior to being marketed for sale.