Bronx Borough President Ruben Diaz Jr. joined Jetro Cash & Carry CEO Stanley Fleishman, Bronx Overall Economic Development Corporation President Marlene Cintron, representatives of the Empire State Development Corporation and the New York City Industrial Development Agency, as well as other business leaders to break ground on the construction of a new facility for Jetro in Hunts Point.
The new facility, which will be approximately 200,000 square feet in size, will offer new space for both Jetro and its affiliate, Restaurant Depot. The $50 million construction project will be assisted in part by up to $21 million in tax incentives approved by the New York City Industrial Development Agency. Those credits had been supported by Borough President Diaz.
This environmentally-friendly project, scheduled to be completed in early 2012, will employ nearly 200 individuals in addition to creating a new, user-friendly facility for the thousands of businesses that rely on Jetro and Restaurant Depot’s wholesale food services.
“Jetro Cash & Carry is a major economic engine in the Bronx, and serves as a hub for the food industry throughout the entire region. I am thrilled to see this company invest in the Bronx, and I am proud to have played a role in making this eco-friendly, job creating development a reality. I also want to thank the Empire State Development Corporation, the New York City Industrial Development Agency and the Bronx Overall Economic Development Corporation for their amazing work on this project,” said Bronx Borough President Ruben Diaz Jr.
“The new facility, with a full Jetro and Restaurant Depot, will be a wonderful complement to the Bronx, to our team, to our customers and to the community. It will both help ensure that Jetro and Restaurant Depot remain a leader in low cost food distribution in the most important city in the United States, while also helping to make sure that our small grocery stores and restaurants remain competitive. I am extremely grateful to Borough President Diaz for his leadership and support on this project. In addition, I would also like to thank the Bronx Overall Economic Development Corporation, the Empire State Development Corporation and the New York City Economic Development Corporation for their invaluable assistance,” said Stanley Fleishman, CEO of Jetro and Restaurant Depot.
“When Jetro proposed a plan for the renovation of its distribution center, the State was willing and able to do its part to assist, contributing a $1.5 million incentive package that combines Metropolitan Economic Revitalization Fund and Downstate Revitalization Fund grants,” said Kenneth Adams, Empire State Development President & CEO, designate. “ESD applauds our partners in City government for their generous contribution as well. The expansion of Jetro is a great example of how the state offers assistance to companies that are willing to invest in our communities and remain an important player in our regional approach to economic development. We wish Jetro continued success.”
“Assistance from the New York City Industrial Development Agency was a critical element of this $50 million project, which will generate millions of dollars in private investment,” said New York City Industrial Development Agency Chairman Seth W. Pinsky. “The new facility will allow Jetro Cash & Carry to expand its business and create jobs in the Bronx.”
“This new facility will help us to maintain The Bronx as the City’s leader in providing New Yorkers with fresh and affordable food. This project is a win-win for everyone, and will create dozens of new jobs for Bronxites. The Bronx Overall Economic Development Corporation and Borough President Diaz are truly delighted to be part of this important project,” said Marlene Cintron, president of the Bronx Overall Economic Development Corporation.
This project was highlighted in Borough President Diaz’s recent “State of the Borough” address.