PepsiCo planning R&D expansion, renovations in Mount Pleasant
PepsiCo Inc. plans to erect a new three-story building at its Global Beverage Research and Development Center campus in Valhalla. The proposed 122,000-square-foot research and development building will contain laboratory and office facilities.
“We welcome the expansion,” said Mount Pleasant Town Supervisor Carl Fulgenzi. “Anything we can do to keep PepsiCo in the town of Mount Pleasant is something we look forward to doing.”
Fulgenzi said the possibility of increased property tax revenues and the hiring of both project construction workers and new PepsiCo employees once the expansion is completed will benefit Mount Pleasant.
Along with the new structure, PepsiCo also plans to renovate and modernize the interiors of the two existing buildings at 350 Columbus Ave. and 100 Stevens Ave., including a 15,000-square-foot expansion to one of the building”™s mezzanine levels and a vestibule. The Purchase-based food and beverage giant has proposed to expand parking and improve the site”™s landscaping, utility infrastructure and stormwater management.
Aurora Gonzalez, senior communications director at PepsiCo, said the company is in the “initial phase” of the possible expansion of its R&D campus. “As part of that work, we have engaged with the town of Mount Pleasant,” she said. “At this time, we have nothing further to share.”
In a project environmental impact statement recently filed with the town, PepsiCo said the expansion of the Valhalla complex is necessary in order to accommodate the company”™s current and future needs.
The Mount Pleasant Industrial Development Agency is also considering granting the company sales and use tax exemptions on purchases of construction materials and leased equipment and a partial real property tax abatement in the form of a payment in lieu of taxes, or PILOT, agreement.
“We had some ongoing discussions, because their plans were vague as far as whether they were going to consolidate and leave Valhalla, so we had discussions on, ”˜What can we do to keep you here,”™” Fulgenzi said.
Details of those plans are still in the works, he said.
The town had scheduled a public hearing on the project Feb. 2 in the Mount Pleasant Town Hall at 1 Town Hall Plaza, a short distance from the PepsiCo campus in Valhalla.
The tentative expansion plans in Valhalla follow PepsiCo”™s relocation in 2015 from its 540,000-square-foot facility at One Pepsi Way in Somers and consolidation at its office campuses in White Plains and Purchase.
“We always look at what we can do to keep businesses in the town of Mount Pleasant. It”™s a very important part of my job to make sure they don”™t leave,” Fulgenzi said, noting the town”™s successful relationship with Regeneron Pharmaceuticals Inc.
The biotechnology company”™s Landmark at Eastview campus at 777 Old Saw Mill River Road is within the towns of Mount Pleasant and Greenburgh.
The biopharmaceutical company”™s Landmark at Eastview campus at 777 Old Saw Mill River Road is within the towns of Mount Pleasant and Greenburgh. Regeneron officials in late December reached an agreement with the company”™s landlord, Biomed Realty, to purchase the 150-acre campus for $720 million. Earlier in December, Regeneron also made a $50 million purchase of the New York Life Insurance office building and campus at 1 Rockwood Road in Mount Pleasant.
“They”™ve been an excellent neighbor,” Fulgenzi said of Regeneron. “We”™ve seen some major development in the town and we have more to come. We”™ve always kind of looked at what we can do to keep businesses in town, while not hurting taxpayers. That”™s what we want to do.”