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 Economic Development News 
Wednesday, January 20 2016

New York, NY -- New York City Economic Development Corporation (NYCEDC) announced an agreement with Transcontinental Inc., which will allow Ultra Flex, a flexible plastic packaging manufacturer in Brooklyn recently acquired by Transcontinental, to keep its 260 employees in its home of more than 40 years.  The deal will also allow Ultra Flex to add an additional 50 employees to its East New York factory.  Brokered through the New York City Industrial Development Agency, the deal prevents Ultra Flex from moving its factory to Missouri.

Statement from Mayor Bill de Blasio:
“These are 300 good manufacturing jobs that mean economic opportunity for men and women in East New York. We are committed to using all our tools to help families earn a good wage and build a better life for their children.”

Statement from NYCEDC President Maria Torres-Springer:
“A big part of our mission at NYCEDC is to create jobs that provide a pathway to the middle class – the exact kinds of jobs supported by the manufacturing sector.  We are committed to making sure that every New Yorker has the opportunity to earn a good salary, and we will continue to work aggressively to ensure quality manufacturing jobs like those at Ultra Flex stay and grow right here in New York City.”

Statement from Brooklyn Borough President Eric L. Adams:
“I am pleased that the City and Transcontinental have come together on an agreement that will not only keep Ultra Flex Packaging Corporation in East New York, but will enable them to add dozens of good jobs. Brooklyn has a proud manufacturing history that must be preserved and strengthened. We must be determined and creative in our pursuit of generating middle-class jobs, jobs that are needed to address the double-digit unemployment that has been pervasive in some of our most historically disenfranchised communities. I have seen first-hand the opportunities that Ultra Flex is creating for hard-working Brooklynites, as well as the financial challenges they have faced in trying to keep their business in our borough. Thanks to a thoughtful incentive package, Ultra Flex will continue to manufacture high-quality, Brooklyn-made packaging products - just as they have for over 40 years.”

Statement from Council Member Rafael L. Espinal, Jr.:
“Ultra Flex Flexible Packaging's decision to remain in the East New York Industrial Business Zone is a big win for Brooklyn and the City. Not only will more than 250 New Yorkers get to keep their jobs, but through the Industrial Development Agency, Ultra Flex will grow even stronger, creating more local jobs and opportunity for our community. From the moment Mayor de Blasio announced his plans to rezone East New York, I made it clear that any community plan must include real support for the East New York IBZ, and I¹m proud that this Administration together with EDC has worked to develop policies and programs that are producing measurable results.”

About NYCEDC
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.

Posted by: Nicole@ExpansionSolutionsMagazine.com AT 09:20 pm   |  Permalink   |  Email

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