Queens door manufacturer considers leaving city after eminent domain seizure

New York /
Oct.October 21, 2011 01:32 PM

The owners of a door manufacturer in Maspeth, Queens say they are strongly
considering leaving the city due to lack of financial incentives after losing their property to eminent domain, the New York Daily News
reported.

The state New York Department of Transportation seized the company’s land, on 43rd
Street between 55th Avenue and 54th Road, in September 2010 to make
way for a new bridge to replace the aging Kosciuszko Bridge.

The company, Karp Associates, rejected a state offer of $445,000 in
state tax credits and grants June 29 — that was dependent on Karp retaining 120 jobs
and invested $3.5 million into a new facility. The company wasn’t
eligible for more money because it wouldn’t be bringing new jobs into
the state. “We did everything possible to keep these jobs in New York,”
a spokesperson for the Empire State Development Corporation, said. “We
offered them the maximum funding they were eligible for under state
law.”

George Kosser, Karp’s vice president of operations, said he would
prefer to stay in Queens, but “it costs money to operate a business in
New York City that doesn’t exist in other places.” Owner Adam Gold
said none of the New York agencies “offered the same incentives that a
business from New Jersey would be offered… to move to New York
City.”

About 12 states have expressed interest in having the company move there, Kosser said,
with New Jersey the front-runner. The company could also move to a
Melville, L.I. property it acquired in July, but only if the state
raises its offer. [NYDN]


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Northpath Investments nabs Milford Plaza for $11M
Northpath Investments nabs Milford Plaza for $11M
Northpath Investments nabs Milford Plaza for $11M
HRI's Aaron Carr and 3045 Godwin Terrace (Facebook, Google Maps)
“Our existence is a tragedy”: Housing Rights calls for enforcement overhaul from Hochul
“Our existence is a tragedy”: Housing Rights calls for enforcement overhaul from Hochul
Gov. Kathy Hochul (Getty, iStock)
Hochul opens $539M homeowner assistance fund
Hochul opens $539M homeowner assistance fund
ICSC’s Here, We Go event in Las Vegas
Fear and loathing at ICSC’s resurrected Vegas conference
Fear and loathing at ICSC’s resurrected Vegas conference
Decarbonizing Real Estate: Key Takeaways from COP26
Decarbonizing real estate: What’s here — and what’s hype
Decarbonizing real estate: What’s here — and what’s hype
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...