NYCEDC Announces Three Winners Of Industrial Growth Initiative
Initiative Supports New York City’s Industrial Businesses, Creating Jobs in Sector that Includes Over 500,000 Employees
P.A.C. Plumbing, Heating and Air Conditioning, Casa Kids, and Joya Earn $50,000 Each Toward Executing Their Business Expansion Plans
New York City Economic Development Corporation (NYCEDC) today announced the three winners of the Industrial Growth Initiative, a two-stage growth strategy and realization program to provide New York City’s industrial businesses with the opportunity to learn specialized growth and development strategies from industry experts. The winners earn $50,000 each in prize money to be put toward executing their business growth plans developed during the Industrial Growth Initiative. The winners, P.A.C. Plumbing, Heating and Air Conditioning, Casa Kids, and Joya, were selected from a group of finalists representing all five boroughs by the judges based on the impact, feasibility and implementation ability of their business growth plans. They will use the money earned to implement the business plans in an effort to expand and thrive in the City.
“The Industrial Growth Initiative has helped these industrial businesses acquire the skills and means for a successful future, encouraging them to expand and create good jobs within New York City,” said NYCEDC President Kyle Kimball. “I look forward to seeing the winners implement their plans for growth as they contribute to our City’s important industrial sector.”
The winners are:
- P.A.C. Plumbing, Heating and Air Conditioning (Staten Island) – A disabled veteran and family owned and operated premier plumbing and HVAC company. They service New York City’s five boroughs and New Jersey, focusing on residential, commercial, and governmental projects.
- Casa Kids (Brooklyn) – A Red Hook based company which designs and fabricates contemporary children’s furniture. Their quality is unmatched, and they specialize in loft beds, bunk beds, cribs, desks, and storage units, as well as entire custom rooms.
- Joya (Brooklyn) – A fragrance house that designs and produces scented artifacts (perfume, personal care, home ambiance). They work with other companies and artists to manufacture innovative, co-branded or private label fragranced goods in a number of different applications and delivery systems.
The Industrial Growth Initiative is comprised of two phases of workshops, which precede the business plan competition. In the first phase of the program, NYCEDC partnered with Next Street to lead business growth workshops across the five boroughs. In each session, industrial business owners received tools that enabled them to take a close look at the current state of their business as well as where they want to take their business in three years, and how to achieve these goals. Thirty-three businesses completed the workshop curriculum. Businesses that completed the first phase then used the business insights gleaned in the workshops to apply to the second phase, Future Focus. After an application process, 14 companies ultimately participated in the second phase. Future Focus workshops, developed and executed by Next Street, provided a balance of group learning and exercises targeted to assess and improve leadership style, preferences and practices. The areas of focus included strategy, finance, talent management, pursuing contracts, preparing to scale, and sourcing. By the conclusion of the four-part workshop series, participants gained the information required to develop and implement a roadmap for translating lessons learned into practice. The 14 participants in the second phase were then judged on their business plans, with the three winners receiving funding to implement their plans.
"NYCEDC’s Industrial Growth Initiative will make an impact for New Yorkers by creating jobs and supporting our local communities and I am ecstatic that Joya has been selected as a winner,” said Councilmember Stephen Levin. “I want to thank NYCEDC for their great work in supporting New York City’s industrial businesses and for promoting the Industrial Growth Initiative."
"The Industrial Growth Initiative funded by the New York City Economic Development Corporation is the type of city-wide program that is central to encouraging our industrial sector," said Councilmember Carlos Menchaca. "I commend the NYCEDC on this innovative project, and congratulate Casa Kids of Red Hook on being recognized as one of three recipients of this award. I look forward to working with Casa Kids to identify the many ways in which this opportunity can help to create a successful future for the company, the residents of Red Hook, and for the City of New York."
“The program completely exceeded my expectations and was challenging, eye-opening,” said Frederick Bouchardy, founder and owner of Joya. “A huge thank you to the EDC and Next Street. My company and I are honored to be among the winners and look forward to implementing our growth plan and making the City proud.”
"The initiative really helped me mold my business plan into the ultimate guide that will continue to boost our growth and increase our workforce,” said Eric Campione, Chief Administrative Officer of P.A.C. Plumbing. “The win feels great and proves that hard work still pays off. Thank you to all of my friends and family for believing in me and showing support as well as the NYCEDC and Next Street for offering this opportunity to help keep business growth in New York City."
“It is extremely gratifying to receive this award and to feel that manufacturing in New York City is still possible,” said Roberto Gil, owner of Casa Kids.
The finalist companies were judged by a panel consisting of Founder and CEO of Manufacture New York Bob Bland, Senior Vice President of Community Development at Citi Group Colleen Galvin, and Department of Small Business Services Deputy Commissioner Robinson Hernandez.
This year’s competition builds off of the success of last year’s program, which was piloted with Next Street and provided three companies with $50,000 to execute their business expansion plans. Last year’s winners, Kings County Jerky Co., KD dids Inc. and Kombucha Brooklyn, were selected to move forward with their ideas for growth within New York City. So far, these three winners have leveraged a total of $360,000 in additional funding and hired 26 full and part-time employees. The Industrial Growth Initiative is one program in a suite that supports the City’s industrial sector, including New York’s Next Top Makers, which acts as a business accelerator for New York City-based product entrepreneurs, inventors and makers, and the City’s series of Industrial Business Zones, which provide expanded business services to industrial and manufacturing businesses within 21 areas across all five boroughs in order to facilitate business growth. New York City’s industrial sector includes over 50,000 companies which employ over 500,000 people.
New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.
About Next Street
Next Street was founded in 2005 on the idea of providing growing companies in urban markets with the same level of expertise that investment banks, Madison Avenue, and the elite consultancies provide to Fortune 500 companies. Next Street portfolio companies now generate $600 million in annual revenues and employ over 4,000 people. The firm has worked with over 150 small businesses and nonprofits to date. To learn more about the firm’s clients, partners and capabilities, visit: www.nextstreet.com.