MassDevelopment provides financing to Quiet Logistics
MassDevelopment, the state’s finance and development authority, said it has provided up to $2.5 million in term financing to Quiet Logistics, a robotic fulfillment specialist that helps e-commerce retailers get orders to their customers.
“Quiet Logistics will use loan proceeds for both equipment and working capital to meet the cost of expanding its distribution center in Devens,” MassDevelopment said in a press release. “The company started leasing the 200,000-square-foot distribution center last May and expects the new operation to create up to 300 jobs over the next few years.”
The company’s formal name is Scenic Technology Corp., but it does business as Quiet Logistics.
MassDevelopment works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth.
Chris Reidy can be reached at reidy@globe.com.
