NYCIDA Helps Dasny Mechanical to Grow its Business in Queens
The New York City Industrial Development Agency (NYCIDA) today approved an assistance package for Dasny Mechanical Inc. to acquire and renovate a 35,000-square-foot vacant industrial property at 112-20 14th Avenue in the College Point section of Queens. The approved real estate and sales tax benefits will leverage an approximately $5 million private investment, which will allow Dasny Mechanical to expand its operations and increase its manufacturing capacity. NYCIDA projects that the project will create five new jobs on top of the already existing 26 at the company.
“By helping manufacturing companies like Dasny Mechanical to invest in New York, we are working to keep our industrial sector strong,” said NYCIDA Chairman Seth W. Pinsky. “This project is anticipated to allow a Queens small business to create new jobs and expand operations.”
Dasny Mechanical Inc. is a fabricator, designer and installer of heating, ventilating and air conditioning (HVAC) components. The company currently operates out of a smaller industrial facility, where it has to contract out all of its sheet metal fabrication. The new factory space will allow Dasny to bring this aspect of the HVAC process in-house, by giving them room to house all of the manufacturing equipment including plaza welders, cutters and industrial sheers.
“I am extremely thankful to NYCIDA for assisting Dasny Mechanical Inc. to grow our business while remaining in New Yor City,” said President of Dasny Mechanical George Wu. “I am proud to be a New Yorker and look forward to further expanding my business within the City. New York City has a lot to offer to small businesses like ours, and is the ideal place for us to remain in the future.”
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 to learn more about NYCEDC projects and initiatives.
The New York City Industrial Development Agency (NYCIDA) is administered by NYCEDC and provides financing assistance to businesses, including small industrial and manufacturing companies. NYCIDA is a conduit agency that issues tax-exempt industrial revenue bonds to assist eligible commercial, industrial, and other qualified entities to finance expansion opportunities. NYCIDA also offers qualified companies abatements on sales, real estate and mortgage taxes. To request information and details on NYCIDA programs, call (212) 312-3600 or e-mail [email protected].