The Massachusetts Industrial
Finance Agency said yesterday
that it has entered into an agreement
with the Taunton-based Kopin
Corp. to provide the company with
$3 million in new equipment
through the agency's Lease/Purchase
Program.
Kopin, a manufacturer of active
matrix liquid crystal displays, will
finance the purchase of several pieces
of testing and production equipment
at a special, five-year fixed-interest
rate of 5 5/8%.
The company said the lower rate
and the new gear will allow for the
creation of 200 jobs.
MIFA will lease the equipment
through Orix Credit Alliance Inc.
and sublease it to Kopin. The
agency's participation assures the
tax-exempt status of the lease and allows
eligible borrowers to access capital at
a lower cost.
The agency did a similar financing
this year for Uno Foods, a pizza
manufacturer.
MIFA is an independent public
agency that issues tax-exempt and
taxable bonds for qualified
borrowers in the state to spur economic
growth.