Success Stories

The Madelaine Chocolate Company

Business Need

Madelaine Chocolate Novelties, Inc. is a chocolatier that produces quality chocolate products for worldwide distribution and is a major employer in the Rockaways. In 1997, NYCIDA provided PILOT benefits to Madelaine for the construction of a 55,000 square-foot building and for improvements and consolidation of its existing facilities into one complex for use in their manufacturing, warehousing, and distribution operations.
In October 2012, the tidal surge from Hurricane Sandy inundated Madelaine’s facilities, destroying the majority of the company’s manufacturing equipment and nearly all inventory, thereby dramatically reducing Madelaine’s operations.  

Solution

NYCIDA, along with the Department of Small Business Services (SBS), developed a package of assistance that included a grant from SBS for approximately $9.7 million along with an increase of up to $3.5 million to Madelaine’s current PILOT benefits and an extension through 2028. Thanks to this innovative assistance package, Madelaine will be able to repair and replace millions of dollars of equipment and substantially increase their production capacity and employment in the Rockaways.