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Greenpoint Manufacturing and Design To Develop Industrial Site In Queens, New York

12/12/2016
New York City Economic Development Corporation reported Greenpoint Manufacturing and Design Center, a nonprofit developer of industrial space in New York City, will be the first organization to benefit from the City’s Industrial Developer Fund.

GMDC will develop 90,000 sq. ft. of industrial space in Ozone Park, Queens, New York. The project will have the capacity for 24 businesses and 80 living wage jobs.

“GMDC is a grateful to have an opportunity to utilize the IDF and to have access to the loan fund. Due to high acquisition and construction costs, our project would not be possible without access to these funds. We look forward to bringing eighty jobs to a community that certainly needs them,” said Brian T. Coleman, CEO of the GMDC.

Selected through a competitive bidding process, GMDC will redevelop a property in Ozone Park to create a multi-tenant space for small and medium-sized industrial and light manufacturing businesses, according to NYCEDC. The modern industrial workspace will be LEED-certified, partially solar-powered, and equipped with new freight elevators and new electrical infrastructure, among other features. NYCEDC is awarding a $10 million grant through the IDF and providing a $3.7 million loan for the $37 million project.

“Now more than ever, we must ensure that our economy is diverse, equitable, and provides opportunity for all New Yorkers. Supporting the industrial sector is critical to that effort, said NYCEDC President Maria Torres-Springer. “Today, I’m proud to announce the first award of the City’s Industrial Developer Fund, which will help create affordable space for small industrial businesses so that they can create good paying jobs in neighborhoods across the city. GMDC has a successful record of supporting quality industrial jobs and we are proud to partner with them on this important project.”

“One year ago, Mayor de Blasio and I announced the Industrial Developer Fund (IDF) to support NYC based industrial and manufacturing companies and the middle class jobs they provide,” said City Council Speaker Melissa Mark-Viverito. “It is immensely satisfying to see the results of this initiative begin to take shape now, as we award Greenpoint Manufacturing and Design Center (GMDC) with the first grant for industrial redevelopment. Our ten-point plan to keep industrial and manufacturing work in the city would be impossible without organizations like GMDC. I look forward to seeing the development they bring to the Ozone Park area, and thank NYCEDC and Mayor de Blasio for their collaboration in realizing this accomplishment.”

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