Ace Endico to Expand Thanks to Putnam County IDA Help
John Jordan | October 2017
BREWSTER—Last month, the Putnam County economy and business community got two shots in the arm that will provide significant benefits for years to come.
On Sept 11, the newly reorganized Putnam County Industrial Development Agency approved granting incentives in the form of a Payment in Lieu of Taxes agreement, as well as sales tax and mortgage tax abatements that will assist the growing food service provider Ace Endico to significantly expand its operations in the Town of Southeast. The $14-million project will involve the company building an approximately 70,000-square-foot expansion to its existing space at 80 International Blvd. and increase parking at the complex.
Putnam Economic Development Corp. President Jill Varricchio noted that the Sept. 11th session was noteworthy because Putnam County now has a fully operational Industrial Development Agency that is once again in compliance with the New York State Comptroller and can now serve as a key part of the county’s economic development efforts to provide assistance to companies looking to relocate, expand or simply remain doing business in Putnam County.
Varricchio testified on behalf of the PEDC in support of Ace Endico’s application for benefits, stating that the benefits offered to the firm “will be a ‘win-win’ for Ace Endico and the taxpayers and residents of Putnam County.” The approved benefits was the first action taken by the re-launched IDA chaired by William Nulk. Other members of the IDA Board include: Dr. Stephen J. Baranowski, Joseph Downey and Putnam County Finance Commissioner William Carlin.
The PEDC President told Real Estate In-Depth that Ace Endico is part of a significant manufacturing base in Putnam County that includes such firms as Brewster Transit Mix, Fyer Machine Systems Inc., Putnam Precision, Vista Labs, and Dunmore to name just a few that all have operations and provide good paying jobs in Putnam County.
IDA Chairman Nulk, who also serves as the president of the Putnam Chamber of Commerce, told Real Estate In-Depth that he joined the IDA Board in 2014. However, after some political and financial struggles, the IDA Board, including Nulk, resigned in mass in January 2016. Some months later the Putnam County Legislature asked Nulk and others to try and re-establish the IDA and bring it into compliance with state regulations. The IDA retained consultant Teri Waivada, a former executive director with the Westchester County Industrial Development Agency, in helping the agency be designed in compliance with state regulations.
Nulk said that the Putnam County IDA was notified by the State Comptroller’s Office that it was in compliance with state regulations in September of this year, just in time to provide assistance to Ace Endico.
He added that the IDA made sure it did not begin operations until it received notification of compliance by the New York State Comptroller and as it was “approaching the finish line” was approached by Ace Endico concerning its expansion project.
Founded in 1982 in Mount Vernon, by William A. Endico and Murray Hertzberg, Ace Endico is the largest food distributor in Westchester and Putnam counties servicing the tri-state area. The firm moved to Putnam County in October 2005 from facilities in Elmsford and has grown considerably since then and currently employs approximately 324 workers.
He recalled his son Michael (a vice president with the firm) initially recommended Putnam County as a headquarters site for the growing firm, but Endico admitted he was skeptical. However, after reviewing the site and learning that Putnam was at the crossroads of I-84 and I-684, he realized the county could serve the company as a “great distribution hub.”
He added, “It has worked out. Putnam was a great choice.”
The company’s state-of-the-art facility houses an all-encompassing inventory featuring dairy, produce, meats, seafood, fine imported specialty products, paper, canned goods and everything in between and operates hundreds of trucks to transport their goods to food establishments throughout the region.
Endico said that the company grew its existing 100,000-square-foot building on International Boulevard by approximately 5,000 square feet a year after it moved in and added another 25,000 square feet about three or four years ago.
The latest expansion project will add at least 50 employees to its workforce in the next five years. “We are pretty aggressive. We are acquiring companies, we are hiring workers from other companies, so we are really on the move here. We are growing,” Endico said.
He praised both the PEDC and the IDA for their assistance for the expansion project that he added was a necessity due to its strong growth. Once the expansion project is complete, the building will total approximately 200,000 square feet. The property at full build-out could accommodate another approximately 90,000 square feet.
The company, in addition to added parking, could build another 100,000-square-foot building as well on property it owns across the street from its existing facility.