Saturday, October 22, 2011
City won't help Karp to stay
From the Daily News:
A third generation manufacturer that is losing its Maspeth property to eminent domain is looking into leaving the city, citing a lack of competitive financial incentives to stay.
Karp Associates, which employes about 115 Queens workers, is considering moving to Long Island or New Jersey, company officials said. Karp officials said they hope to make a decision before the end of the year.
The company is the latest in a long line of manufacturers that have left the city or are mulling a move. That's due to a combination of high taxes, rents and labor costs in the city coupled with the lack of available space to expand.
The problem is compounded by the generous relocation packages other states are offering.
"We met with with countless agencies, and everyone seemed to have the best intentions," said owner Adam Gold, whose family founded Karp in 1957.
He added, "I wasn't even offered the same incentives that a business from New Jersey would be offered...to move to New York City."
The state Transportation Department seized Karp's land in September 2010 to make way for a new bridge to replace the aging Kosciuszko Bridge.