By Thomas Grillo
Banker & Tradesman Staff Writer

A combination of potentially lucrative state incentives and a talented employee base has enticed a New York chemical company to move its corporate headquarters to the Boston area.

Novomer Inc., a materials company that produces biodegradable plastics and polymers from renewable substances, is seeking 10,000 square feet in the region. James Mahoney, the company’s CEO, said the firm is looking in Cambridge, Watertown and Lexington, but has not decided on an address.

The Ithaca, N.Y., firm has two dozen employees that will stay in the Empire state. They plan to add 24 business development, marketing and finance jobs in Massachusetts. “The potential employee base here is great,” Mahoney told Banker & Tradesman.

Mahoney acknowledged he is having conversations with state officials about financial incentives to relocate to the Bay State. But he declined to specify the agency or what financial enticements the firm is seeking. 

Darrell LeMar, a spokesman for the state’s Executive Office of Housing & Economic Development, said the state offers a variety of programs, cash and tax incentives in exchange for job creation. 

“We decide on a case by case basis,” LeMar said. “Under one program, we offer workforce training grants ranging from $3,000 to $500,000 to train workers.”

Novomer makes plastics that are used in water bottles and food packages. Today, the firm has 9,000 square feet in New York, and their customers include chemical companies such as the Dow Chemical Co. and Dupont.