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.
10 comments:
How many jobs? What tax revenue?
Is this the best use of our tax dollars?
They should have cashed out after Sandy and went to a tax friendly state.
the redistribution of needed funds,which includes build it back,after Sandy is the only thing the blaz has done right.
better having this long time home grown factory here than another bunch of chains,which would have certainly filled that space.
This business has been receiving an awful amount of assistance . Will he be required to stay for 20 years?
Better a chocolate maker than a developer turning it into a high-rise condo building.
They will exit as soon as the agreement allows them too.
It is no longer a "business" but a welfare recipient.
Didn't they have insurance? Didn't they get federal grants?
Who works there and how much do they make? If we are paying millions to keep 50 illegals employed at minimum wage, this isn't worth it!
I like Cadbury better anyway.
And don't get me started on the Dark chocolate Mint M&M's.
MMMMMMMMMMMMMMMMMMMMMMMMMMMM.......................
Chocolate!!!!!!!!!!!!!!!
He should use the money to relocate his business to dry land. What happens when a Sandy hits Rockaway again?
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