A White Plains, NY importer and marketer of high-quality wine and spirit brands is relocating to Stamford after receiving an incentive potentially worth $5 million through the state Department of Community and Economic Development.
According to an announcement by Gov. Dannel P. Malloy, relocation will deliver more than 100 new or relocated jobs moving into the state. A spokesman for the governor said the state, through DECD, will support the project with a $5 million, 10-year loan at 2 percent interest. Funding will be used for architectural and engineering services, leasehold improvements, and new equipment.
Loan forgiveness of $4 million will be provided if the company retains an average of 100 employees for at least two years. An additional $1 million will be forgiven if the company retains an average of 115 employees.
Exceeding its capacity in the 25,000 square feet it leased in White Plains, Deutsch Family Wine & Spirits searched for alternate facilities in the Westchester and Stamford markets that could meet its physical and operational requirements. The company determined that the Stamford location at 201 Tresser Boulevard at 43,563 square feet would best accommodate its requirements and position the company for continued growth.
Deutsch Family is known for identifying brands consumers want most and focusing efforts to maximize their availability and quality. The company introduced Yellow Tail to this country, and it continues to be the nation’s largest imported wine brand.
