Mix Messages

| 11 Nov 2014 | 01:42

    The New York City Industrial Development Agency (NYCIDA) approved more than $7.23 million in financing assistance last week for four industrial companies expanding into Brooklyn and Queens. According to the New York City Economic Development Corporation, which oversees NYCIDA, the project is expected to encourage $21 million in private investment, and create and retain approximately 156 jobs. The companies include DCD Marketing LLC, a distributor and designer of direct marketing materials; Excellent Poly Inc., a manufacturer of custom printed plastic bags; Safe Art SAT Inc., a fine art shipping and storage company; and partners Mind, Hand and Company, J.V. Woodworking and OH-Show Woodworking Studio. The companies will use the combined $7.16 million in mortgage recording tax and real estate tax benefits and $70,000 in sales tax exemptions to help acquire and renovate new facilities in East New York, Sunset Park, Elmhurst and Ridgewood. And while the city is helping to ease the financial burden faced by industrial developers, it’s also hoping to ensure that Dyker Heights and Ft. Hamilton, Brooklyn, retain their residential charm. The city council recently approved zoning changes for almost 160 blocks in the neighborhoods, imposing stricter size and density restrictions in order to retain a predominance of one- and two-family homes. Free marketeers are, meanwhile, screaming in the gutters.