YUM! Krinos Foods invests $25 million in landmark Mediterranean food headquarters, new jobs
NEW YORK CITY — New York City Economic Development Corporation (NYCEDC) President Maria Torres-Springer and Krinos Foods Chairman Eric Moscahlaidis participated in a ribbon-cutting ceremony to mark the grand opening of a new 100,000-square-foot international headquarters for Krinos Foods, a New York City-based Greek and Mediterranean specialty food importer, distributor and manufacturer.
The new Krinos Foods facility, located at 1750 Bathgate Avenue, revitalizes a key section of the Bronx Bathgate Industrial Business Zone that had been underutilized for nearly thirty years. As a result of company growth, Krinos Foods outgrew their longtime Long Island City location and invested $25 million into its new, state-of-the-art Bronx operational facility.
Through a successful partnership with the New York City Industrial Development Agency (NYCIDA), NYCEDC was able to assist Krinos Foods in its commitment to retain its international headquarters within New York City.
Founded in Tribeca in 1958, and with facilities in New York, Illinois, and California, Krinos Foods has grown to become one of the world’s largest importers, distributors and manufacturers of Mediterranean specialty foods – with 3000 products that service over 5000 customers across North America. After internal expansion and acquisitions, Krinos responded to an RFP issued by NYCEDC in April 2012 seeking to remain headquartered in New York City. It subsequently purchased the Bathgate site from the City for $3.5 million.
In November 2015, Mayor de Blasio announced a comprehensive 10-point Industrial Action Plan to modernize the City’s manufacturing sector and strengthen core industrial business zones. The construction of Krinos Foods’ new headquarters in the Bronx allows a thriving business to remain in New York City, preserve its trained and skilled workforce and continue expanding operations. The company is retaining 85 employees from their Long Island City location. Once the new Bathgate facility is fully operational, Krinos has committed to hiring approximately 15 additional employees through NYCEDC’s HireNYC program and all employees will receive average hourly compensation of $19.75 with benefits.
READ MORE about this story at New York City Economic Development Corporation. Photo courtesy of Krinos Foods.