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Today, Massachusetts Department of Transportation (MassDOT) Secretary and Chief Executive Officer Richard Davey and New Balance Chairman James Davis announced the signing of a letter of intent to build a new commuter-rail station on the Worcester Line at Everett Street in Brighton, Mass.

The New Brighton Landing station will serve the public in Boston’s Allston-Brighton area and New Balance’s New Brighton Landing development, which will include a New Balance world headquarters, additional office building, hotel, sports complex and retail space, MassDOT officials said in a blog posted on the MassDOT's web site.

Under the agreement, New Balance will fund all permitting, design and construction costs for the station, as well as annual maintenance costs. The New Brighton Landing development and new station are expected to create about 3,000 permanent jobs in addition to 400 full-time construction jobs, MassDOT officials said.

MassDOT and New Balance now will seek a memorandum of understanding that will detail each party’s commitment in the project, they said.