FLEXJET WHOOSES INTO WESTCHESTER ON WINGS OF THE IDA AND CAPTAIN ROB

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WPCNR COUNTY CLARION-LEDGER. From the Westchester County IDA. February 13, 2015:

County Executive Robert P. Astorino today announced that Westchester’s Industrial Development Agency (IDA) has approved a series of incentives that will help Flexjet relocate its fractional jet charter operations from Teterboro, NJ to Westchester County Airport in White Plains.

The move will bring an initial 38 high-wage permanent jobs to Westchester and create an additional 55 permanent jobs over the next five years. In addition, 20 construction jobs will be created during the four-month renovation of Flexjet’s new home at hangar “F.”

“We are thrilled that Flexjet has decided to move to Westchester,” said Astorino. “Flexjet is rolling out a red carpet runway to corporate executives and entrepreneurs from around the globe, which will encourage further investment and job creation in Westchester.”

The financing and tax-exemptions made available through the IDA help defray the cost of the move from Teterboro and support the $5 million renovation project. The construction project is expected to begin in May and transform the hangar into a state-of-the-art facility and convert the current office space into a modern, technologically-advanced passenger lounge.

“Westchester is an ideal location for Flexjet as we expand our programs and continue to deliver an exceptional, world-class customer experience,” said Kenneth Ricci, chairman of Flexjet. “County Executive Astorino’s team has been highly responsive and supportive. We are excited for our business to start taking off in Westchester.”

The highly-skilled and high-paid positions that Flexjet expects to create over the next two-to-five years range from pilots to maintenance technicians and supervisors to facility managers and inspectors.

Friedland Realty Advisors Expanding

Astorino also announced that Friedland Realty Advisors, a leading commercial brokerage firm, decided to keep their corporate headquarters in Westchester, thanks in part to incentives approved at today’s meeting. The company, having outgrown its current location in Yonkers, has chosen to relocate to a larger space at 440 Mamaroneck Avenue in Harrison.

The 45-year old firm chose staying in Westchester over moving to New York City, Stamford or New Jersey, because, “Location, location, location,” said Ayall Schanzer, Friedland Realty Advisors president and CEO. “Westchester positions us to be a dominant regional player with close proximity to our target customers and desirable inventory.”

The IDA incentives will finance the renovation of their new space as well as purchases that will upgrade the firm’s technological capabilities.         The firm anticipates hiring four executive-level employees and contracting with seven real estate brokers over the next year, adding to its existing seven full-time employees and 26 brokers.

About the IDA

The IDA is a public benefit corporation created in 1976 for promoting and encouraging economic development in the county primarily through assisting in the creation or retention of jobs. The IDA is also empowered to issue taxable and tax-exempt bonds for organizations meeting federal and state guidelines. There is no financial risk to the county or to county taxpayers. The obligation for repaying the debt rests solely with the organizations.

Any corporation or small company looking to access the low-cost and tax-exempt project financing made available through the IDA should contact Jim Coleman, executive director of the IDA, at (914) 995-2963 or jcoleman@westchestergov.com.

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