Central Bronx-based Golden Krust Bakery, which makes and markets Caribbean foods and whose name appears on 120 franchised restaurants in multiple states, received a series of inducements May 20 to move its headquarters to New Rochelle.
The New Rochelle Industrial Development Agency voted unanimously, 4-0 with three absences, to approve the application of Golden Krust to move to 125 and 160 Beechwood Ave., a now-empty low-slung warehouse/distribution/manufacturing center of 152,000 square feet with 25-foot ceilings on “approximately 4.5 acres” and to facilitate the possible move. A public IDA hearing is slated for the end of June, with the exact date to be determined by the agency this week.
The IDA said in a preliminary resolution, Â “It is desirable and in the public interest for the agency to grant financial assistance for the purpose of financing the costs of the acquisition, renovation, reconstruction and equipping of the facility.”
The IDA said the effort “is reasonably necessary to discourage the company (Golden Krust) from moving one or more plants or facilities to a location outside the state, and is reasonably necessary to preserve the competitive position of the company in its industry.”
“At this point we are only in preliminary discussions with the city of New Rochelle and would prefer not to comment any further on the matter,” said Lowell Hawthorne, president and CEO, responding to a detailed list of questions regarding the family-owned company”™s future plans in the arenas including employment and investment.
Similar word came from Kevin Langtry, senior associate in CB Richard Ellis Group”™s Stamford, Conn., office and the building agent for the unnamed private seller. “There”™s something we”™re working on,” he said. “They”™re considering the city, but nothing is done yet. We”™re hoping something works.”
Besides making Jamaican-themed foods like jerk fish, jerk chicken and Jamaican beef patties, Golden Krust, founded in 1989, supervises 120 restaurant franchises in multiple states from its 3958 Park Ave., Bronx, Â headquarters.
Hopefully these “incentives” do not include the exemption of paying taxes as the City of New Rochelle has done over the past few years for so many corporations that want to set up shop here.
I live and work in New Rochelle and as a tax paying citizen, I can tell you the taxes here are burdensome and there is no reason these corporations shouldn’t pay their fair share.