News: Spotlight Content

Chemung County soon to be home of 100,000 s/f manufacturing facility for Turtles Candy

DeMet's Candy Company broke ground on a candy processing plant in the Airport Corporate Park in May. The company, headquartered in Stamford, Conn., is building a new home for its Turtles brand candy that the company acquired from Nestles in July, 2007. The 100,000 s/f manufacturing facility is being built on a 17-acre parcel in the park developed by the Chemung County IDA in 1996. DeMet's Candy Company is investing over $13 million in the facility and equipment. The company has committed to creating a minimum of 100 new manufacturing jobs, in return for considerable financial assistance secured by STEG, including a $500,000 grant from Empire State Development, a $732,000 grant secured through the New York State Office of Community Renewal to assist with machinery purchase, $250,000 grant secured by Senator George Winner via the Community Capital Access Program, and a $45,000 grant was secured by assemblyman Tom O'Mara to help offset the costs of constructing a public road to the facility. DeMet's Candy Company changed its name from Signature Snacks, when it acquired the Turtles brand candy business from Nestles. The company is also the owner of Flipz coated pretzels, which DeMet's owner, Brynwood Partners also acquired from Nestles. Brynwood Partners also owns Stella D'oro Biscuit Company and Richelieu Foods, a leading supplier of private label salad dressing and frozen pizza. "Turtles is a wonderful brand and an indulgent chocolate treat," said DeMet's president David Clarke. "The combination of the Turtles and Flipz under DeMet's will create a national full-line chocolate company. The combined product lines will allow us to become a much more significant supplier to our retail customers." The 150-acre Airport Corporate Park is now home to 18 businesses that employ over 1,700 people. These companies have invested $80 million in facilities. The DeMet's project leaves only six acres left in the development and Southern Tier Economic Growth, in partnership with Chemung County and the Chemung County Industrial Development Agency, purchased 150 additional acres South of the Airport Corporate Park and have been working to make Airport Corporate Park South shovel ready to continue the success seen in the original development.
MORE FROM Spotlight Content

The commercial classroom: 1031 tax-deferred exchanges - by Edwad Smith Jr.

The sale of real estate may trigger capital gains taxes on the net profits of that sale. These taxes may be deferred by participating in a 1031 tax exchange, in essence, by purchasing property(s) to replace the
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
CRE Guide Featured Company: Merritt Environmental Consulting Corp.

CRE Guide Featured Company: Merritt Environmental Consulting Corp.

Merritt Environmental Consulting Corp. (MECC) was established in June of 2009 after being part of a larger engineering firm for almost 20 years. The focus of the company is to assist lending institutions, attorneys, real estate investors, and property owners with environmental concerns. Today, MECC has offices in New York, Florida, and Vermont and has grown into a regional consulting firm serving clients along the East Coast.
From vacancy to vitality: How adaptive reuse is reshaping Long Island’s CRE landscape - by Andrea Tsoukalas Curto

From vacancy to vitality: How adaptive reuse is reshaping Long Island’s CRE landscape - by Andrea Tsoukalas Curto

Adaptive reuse has become one of the most important conversations in commercial real estate today. Long Island has a large inventory of aging retail, office and industrial
2026 Developing Queens: Long Island Board of Realtors  advances commercial growth and advocacy in Queens

2026 Developing Queens: Long Island Board of Realtors advances commercial growth and advocacy in Queens

The Long Island Board of Realtors (LIBOR) Commercial Network continues to play a key role in advancing opportunities and strengthening the commercial real estate landscape across Queens. Through targeted programming and global outreach
2026 Developing Long Island: ERG Commercial Real Estate launches its new Retail Leasing division

2026 Developing Long Island: ERG Commercial Real Estate launches its new Retail Leasing division

North Hempstead, NY ERG Retail Leasing is the dedicated leasing division of ERG Commercial Real Estate, an established full-service commercial real estate brokerage for over 35 years.