Bernadette O'Leary 212-312-3523 (EDC)
MAYOR GIULIANI ANNOUNCES QUEENS PRINTING COMPANY TO REMAIN AND GROW IN NEW YORK CITY
-- Prevents 190 Jobs From Leaving Queens --
Mayor Rudolph W. Giuliani announced today a 13-year agreement with Quality House of Graphics, a Queens-based pre-press and printing company, to stay and expand in New York City at no cost to the City. The 13-year agreement will retain 190 jobs and enable the company to expand its operations in Queens. The company is located at 47-47 Van Dam Street in Long Island City, Queens.
Under the agreement, Quality House of Graphics will receive a discount of approximately $839,000 in energy costs. This discount is made possible through the New York City Public Utility Services (NYCPUS) program, which provides discounted energy from the New York Power Authority. This incentive carried considerable weight in the company's decision not to move its operations out of the City to New Jersey.
"This agreement is part of the City's ongoing effort to retain and create jobs throughout the five boroughs," said Mayor Giuliani. "Quality House of Graphics has made New York City its home for more than 50 years, serving the advertising and printing communities. The allocation of this low-cost power will enable the company to stay -- along with its 190 jobs -- and expand its Long Island City facility. The City welcomes the economic benefits Quality House of Graphics will continue to bring, as well as its commitment to its employees and community."
The company's savings from these low-cost rates will enable it to purchase two new printing presses and create up to eight new jobs. The electricity savings is critical to the continued expansion and growth of the Queens firm.
"New York City has been our ally for many years," said Douglas M. Schara, Chief Financial Officer of Quality House of Graphics. "The City initially assisted us in the purchase of our building through the IDA in 1982, and now it has fueled our expansion through energy credits from NYCPUS. In an age and industry where technological advances normally reduce a work force, our work force has increased by nearly 40 people in less than two years. We look forward to continuing this trend in New York City."
Quality House of Graphics is one of the top 20 pre-press facilities in the nation. The company provides a full range of graphic arts services and continues to invest in updating its production equipment to maintain a modern facility. The company has been at its current Queens location since 1982. In the last four years, Quality House of Graphics has acquired two companies and relocated them to its facility, adding 30 jobs.
The New York City Economic Development Corporation (EDC) directly manages NYCPUS and acts as the City's agent in certifying businesses for Con Edison's Business Incentive Rate (BIR) program. EDC also certifies the eligibility of companies for the BIR program. Companies must commit to retain or add jobs in New York City and/or make investments in their City facilities to be considered for these two programs.
Under the Giuliani Administration, approximately 30 companies have benefited from the public/private partnership between the City, the New York Power Authority and Con Edison. Both of the programs operate without any financial support from the City.
EDC is the City's primary vehicle for economic development services. Using its real estate and financial resources, it helps develop business and create jobs throughout the five boroughs.
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