Food Wholesaler Cashes In
- Challenge: A national food wholesaler and supplier for the restaurant industry with facilities in over 80 locations nationwide sought government assistance. They were constructing a new $50 million facility in New York City, and were interested in us finding government dollars to offset capital costs.
- Solution: Empire, with its vast experience in economic development and relationships with key public officials was able to identify numerous programs. Our team developed a strategy that enlisted the support of key federal, state, and city government leaders.
- Result: We secured an incentive package valued at $2.5 million for the client that included, a $500,000 cash grant, $1 million in Empire Zone benefits, and a $1 million loan at 3% (percent), amortized over 20 years. The project is projected to create and retain more than 150 jobs.
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