Framerica & County Frame Corp. $2M+ Incentive Package

Posted By empire On March 13th, 2020 In Uncategorized

Framerica Corp – $2 Million (Suffolk County)

Challenge:  Framerica, one of the nation’s largest manufacturers of picture frames called Long Island home since the 1960’s.  However, as the cost of doing business in New York increased other states began to call the company and entice them to move.  Over 21 separate governments from three states solicited Framerica to leave New York.  Their heart was in New York, but they were having a difficult time gaining the attention of New York officials.

Empire secured for Framerica 25% of all power subsidies allocated to Long Island – the largest percentage for any single business on Long Island and New York City.

Solution:  Empire developed a comprehensive strategy and worked tirelessly with state and local economic development officials to educate them on the merits of this company.   We identified several grant and incentive programs for the client.

Result:  Framerica was awarded a very generous package from state and local agencies that saved 235 jobs and created an additional 50 jobs for the Long Island region.

  1. Assisted in securing $1.2M in property tax and sales tax abatement’s.
  2. Secured $605,000 in Excelsior Tax Credits.
  3. Low-cost power subsidy from Recharge NY (25% of all power allocated to L.I.).

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