Krinos Foods Relocates International Headquarters & Operations Center To Bronx, New York
According to the New York City Economic Development Corporation, Krinos’ presence will help revitalize the Bronx Bathgate Industrial Business Zone that has been underutilized for nearly thirty years.
As a result of company growth, Krinos Foods outgrew their longtime Long Island City location and invested $25 million into its new, state-of-the-art Bronx operational facility, city officials said. Through a successful partnership with the New York City Industrial Development Agency (NYCIDA), NYCEDC was able to assist Krinos Foods in its commitment to retain its international headquarters within New York City.
“On behalf of the entire Krinos team, I am thrilled to announce that we have completed and moved into our new state-of-the-art facility. We are grateful to the EDC for their help in finding a suitable location for us to construct our new plant in the Bronx. We founded our company in New York in 1958 and this new plant allows us to continue our commitment to New York City for decades to come,” said Krinos Foods Chairman Eric Moscahlaidis.
After internal expansion and acquisitions, Krinos responded to an RFP issued by NYCEDC in April 2012 seeking to remain headquartered in New York City. It subsequently purchased the Bathgate site from the City for $3.5 million, the NYCEDC said.
City economic development officials noted the company is retaining 85 employees from their Long Island City location. Once the new Bathgate facility is fully operational, Krinos has committed to hiring approximately 15 additional employees through NYCEDC’s HireNYC program and all employees will receive average hourly compensation of $19.75 with benefits.
“NYCEDC is proud to have assisted Krinos Foods in its efforts to remain a dynamic part of the City’s vibrant industrial and diverse manufacturing economy,” said New York City Economic Development Corporation President Maria Torres-Springer. “The opening of this facility serves as a prime example of how the City can partner with private businesses to preserve good paying jobs for New Yorkers while spurring economic growth and opportunity for the community.”
“I welcome Krinos Foods to their new home in the Bathgate Industrial Business Zone and offer the services of my office to ensure a smooth transition. Krinos is a welcome addition to the borough and will surely provide an economic boost to the area. I look forward to being a partner as they establish their roots in the Bronx,” said Council Member Ritchie Torres of the Bronx.
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