Bringing new businesses and jobs to New Rochelle is an essential priority. And while towers and shopping centers usually attract the most attention, our commercial base also depends critically on job creation and a balanced portfolio of economic activity. That’s why this week’s official opening of the new headquarters of Pearlgreen Corporation should be celebrated.
Pearlgreen is a 75-year-old family business that manufactures building maintenance and contractor supplies as well as sports equipment like netting and batting cages. They are consolidating their warehouse distribution facility to New Rochelle from New York City and Mexico, in the process repatriating ten manufacturing jobs and promising to hire locally.
The industrial building they now occupy was the abandoned former home of the Bakers Pride Oven Company. Pearlgreen has upgraded the facility significantly, including energy-saving features supported by grants from Con Edison and New York State Energy Research and Development Authority. The move relocated more than 55 full-time, permanent employees to the site, contributed over 120 construction jobs, added ten new manufacturing jobs, and added approximately $7 million in new investment to the city.
The New Rochelle Industrial Development Agency (IDA) was instrumental in persuading Pearlgreen to move to New Rochelle, providing assistance to help defray the cost of relocating. It’s a good example of how IDA incentives, used wisely and judiciously, can be effective tools in promoting economic activity to the benefit of taxpayers.