Gap Inc. Plans $96 Million Expansion At Its Fishkill, New York, Distribution Center
The retailer which built a 2.3 million square foot, $162 million, distribution center in Fishkill more than a decade ago, plans to invest $96 million in the renovation and expansion of this center. The project includes the purchase of new machinery and equipment, related to a new operation moving into the facility and to support the growth of the company.
To secure this major investment and job creation project, Empire State Development is providing the company up to $12 million in performance-based Excelsior Jobs Tax Credits, which are tied directly to job creation and investment commitments. In addition, the Dutchess County Industrial Development Agency is extending its existing Payment in Lieu of Tax agreement, which will also be performance-based under the new agreement, and Gap Inc. will be eligible for a sales tax exemption as well as employee training assistance.
“Gap Inc.’s decision to invest in their Fishkill facility – and bring as many as 1,200 jobs there over the next five years – is another sign that New York’s economy is on the move,” Governor Andrew Cuomo said. “By partnering with the private sector, our administration is attracting renewed interest from companies that are looking to expand, and as a result New York is among the top states in the nation for job growth since the recession. Today’s announcement is proof that this approach is delivering results for New Yorkers, and I look forward to seeing it drive the regional economy for years to come.”
Senior Vice President of Global Logistics for Gap Inc. Shawn Curran said, “We are proud of our fourteen year history as an employer in Fishkill, New York. As Gap Inc. continues to grow we are expanding our Northeast distribution capacity through infrastructure investment. With $96 million in capital investment and the addition of 1,200 new jobs by June of 2019, Fishkill will continue to be a priority for us. Our Fishkill Distribution Center Campus serves a vital role for us in providing great service to our customers throughout the Northeast and we are thrilled with the growth opportunity for the community.”
Empire State Development President/CEO/Commissioner Kenneth Adams said, “Gap Inc. is a world leader in the retail industry and its commitment to grow its distribution center here in New York State underscores the improved business climate under the Governor’s leadership. The creation of 1,200 new jobs will provide a tremendous boost to Dutchess County’s economy and will further solidify Gap’s presence and partnership in the community.”
Catherine A. Maloney, President/CEO of the Dutchess County Economic Development Corporation said, “It has been rewarding working on this project and I am pleased Gap Inc. chose Dutchess County for their expansion. Collaborating with state and local economic development partners to pull together an attractive incentive package encouraged the company to make the investment in Dutchess County. The significant increase in employment will help re-invigorate the southern Dutchess economy and have a positive impact on local business.”
Charles Daniels III, Chairman of the Dutchess County Industrial Development Agency said, “We were very happy to have been a member of the State and County team who put together a financial incentive package that will bring significant new capital investment and jobs to Dutchess County. Gap Inc.’s $162 million initial investment in Dutchess County in 1999 was one of the largest private projects in the State that year resulting in tax equivalents paid to local school, fire, library, and town taxing jurisdictions to date of nearly $18 million. We appreciate their recommitment to our community.”
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