Business Need

Kyu Hueng Park immigrated from Korea to New York with an electronics background.  With very little money, unable to find a job but armed with an entrepreneurial spirit, he opened a TV repair shop. That business grew and in 1977 Mr. Park founded Shine Electronics refurbishing cellphones, contracting with major communications companies. Shine Electronics was operating in only two-thirds of its 40,000 square foot facility.  Due to an expansion of its customer base, the company was running three eight hour shifts, six days to meet the demand. Shine needed to expand its production space and renovate its facility. Unfortunately, because of operating and expansion costs, the company was considering closing its New York operations and expanding its other facility located in Mexico.

Solution

With the help of NYCIDA in the form of sales and use tax exemptions, mortgage recording tax exemptions and real estate tax abatements, Shine Electronics was able to maintain, renovate, and expand its Queens facility, while creating new jobs and generating increased revenues. Today, Shine is one of the largest national refurbishment manufactures, employing 250 workers, most of whom live in the 5 boroughs and can commute to the Long Island City facility.  The company contracts with major brands such as Verizon, PCD, Motorola, and Samsung and is still growing its business in New York City.