WPCNR THE DEVELOPER NEWS. From The Governor's Press Office. December 17, 2007: Governor Eliot Spitzer and ITT Corporation (“ITT”) today announced that ITT, a global engineering and manufacturing firm, will invest $14.8 million to expand its world headquarters in a new White Plains facility. The company pledges to retain all existing 119 jobs and create 96 new jobs within five years of occupying the new space, adding to the thousands already in its workforce across the state.
Governor Eliot Spitzer Announcing the ITT grants today in White Plains at 1133 Westchester Avenue: At far left is Westchester County Deputy County Executive, Larry Schwartz; Mayor Joseph Delfino of White Plains, 3rd from left; Congresswoman Nita Lowey (4th from left), Governor Spitzer (at podium) State Senator Suzi Oppenheimer, State Assemblyman Adam Bradley; at far right, is owner of the complex, Robert Weisz. (Photo, the Governor's website).
Instead of moving out-of-state, ITT decided to move its world headquarters across the street, to a leased 90,000 square-foot facility at 1133 Westchester Avenue. In recognition of its investment in New York, Empire State Development and ITT have agreed to a series of project milestones, through which the company will be eligible to apply for up to $1 million in Jobs NOW funds. Under the agreement, ITT will receive the full amount once it reaches project targets set by Empire State Development.
1133 Westchester Avenue, shown under renovation last March. (Photo, WPCNR)
“For more than 100 years, ITT and its businesses have been a bedrock of the New York economy, currently supporting more than 3,700 employees across the state,” said Governor Spitzer. “The company’s decision to expand its headquarters in White Plains reaffirms its commitment to New York and sends a powerful signal about its faith in our efforts to improve the state’s business climate.”
Pat Foye, downstate Chairman of Empire State Development, said: “Westchester has long been a magnet for corporate headquarters, including more than a dozen Fortune 500 firms, and we are pleased with ITT's decision to remain among the more than 170 major corporations calling Westchester home. In selecting New York over its other options, ITT has affirmed how hard our administration fights to convince companies to locate here and to help existing businesses grow in New York.”
Steve Loranger, Chairman, President and Chief Executive Officer of ITT, said: “We are pleased to have found a new home for our world headquarters here in White Plains and to remain in New York. We've got a rich history in the state and owe a lot of our success to the very talented people who live and work here. We're grateful to the State of New York for its continued partnership and look forward to a bright future here.”
ITT Corporation is a world-wide supplier of pumps, systems and services to move, control and treat water and other fluids. The company is also a major supplier of sophisticated military defense systems and provides advanced technical and operational services to a broad range of government agencies. With 2006 revenues of $7.8 billion, ITT employs more than 3,700 people in New York State and approximately 35,000 worldwide. In addition to the company headquarters in Westchester, ITT maintains facilities in Monroe, Seneca, Cayuga and Wayne Counties.
New York has been host to the company’s world headquarters since 1995. After recognizing the need for a new world headquarters, ITT considered alternative sites in Connecticut, New Jersey and Colorado, where it has existing facilities. New York State and Westchester County took a proactive role in working with ITT, leading to the company’s decision to expand in the State.
ITT also expects to receive sales tax abatements from the Westchester County IDA worth $500,000 over a three-year initial period for eligible construction expenses and approximately $25,000 to $30,000 in energy cost abatements through a Con Ed Business Incentive Rate (BIR) contract over a seven to ten year period.
Congresswoman Nita Lowey said: “ITT’s decision to expand its operations in Westchester is good news for the State of New York. This decision will allow ITT to benefit from New York’s highly educated and skilled workforce, and will create job opportunities for New Yorkers in a highly competitive global industry. I commend Governor Spitzer and Empire State Development for their efforts, and I will continue to do everything I can to make New York an even greater place to live, work, and do business.”
State Senator Suzi Oppenheimer said: “Hearty congratulations go to Governor Spitzer's economic development team, County Executive Spano and ITT for keeping and expanding the company in White Plains. This is just one indication that state government is working to bolster New York's economy.”
Assembly Member Adam Bradley said: “I am delighted that ITT is not only staying in White Plains, but expanding its world headquarters in the City. Their commitment to the City of White Plains and the State of New York is a testament to our efforts to maintain a vibrant economy in the Region. I am particularly pleased that Empire State Development has played such a vital role in making this happen.”
Westchester County Executive Andrew Spano said: “We are proud and pleased that ITT has chosen to keep Westchester as its world headquarters. I want to thank Governor Spitzer for his efforts which show, once again, that by working together, we can benefit our residents, businesses and our economy. ITT will not only remain in Westchester, but will also be increasing its workforce here. This is an example of the successful economic development partnership between the State and the County.”
White Plains Mayor Joseph M. Delfino said: “When ITT approached me about their desire to remain in Westchester County and about their interest to move their world headquarters into the City of White Plains, I was pleased to help them. The theme of my administration is that of working together. This is a perfect example of what can be accomplished when we work together to reach a desired goal. This partnership between the private and public sector is helping New York State continue its economic growth with the creation of 96 new jobs. It's is a win-win situation for the City of White Plains and the ITT Corporation.”
Westchester County Board of Legislators' Chairman Bill Ryan said: “ITT’s decision to remain in Westchester and expand its operation is good news for area residents. Westchester will realize more jobs, a stronger tax base and an enhanced corporate community. These will benefit the county both immediately and in the years to come.”
The Spitzer administration has taken steps to improve the state’s business climate by confronting what the Governor calls “the perfect storm of unaffordability” – a mix of high taxes, burdensome costs, and regulations that have hampered growth. This year, the administration succeeded in obtaining a historic workers’ compensation reform that will reduce businesses’ premiums by more than $1 billion while increasing benefits for injured workers. Also this year, the administration cut business taxes by $150 million and reduced property taxes by $1.3 billion.
