After receiving a $13.2 million grant from the City, Madelaine Chocolate Company is here to stay.
The 66-year-old chocolate company, which has been operating in Rockaway for 48 years and serving as one of the peninsula’s largest employers, will stay in Rockaway due to a tremendous grant provided through the City’s Hurricane Sandy Business Loan and Grant Program. The large award was made possible after the Mayor de Blasio administration made changes to the HSBLGP over the summer.
Hurricane Sandy devastated the company, leaving it with $50 million in losses from damaged equipment, property and a $10 million loss in inventory alone. Madelaine Chocolate officially opened with limited capability in October 2013. In February 2014, it was announced that the building at 9603 Beach Channel Drive was up for sale and the company may be moving, since it didn’t have sufficient funds to recover.
The grant will allow Madelaine Chocolate to remain in Rockaway.