• Pepsico Plans $240 million renovation, Obtains IDA Assistance

  • DECEMBER 12, 2012 | COUNTY GOV'T, ECONOMIC DEVELOPMENT, REAL ESTATE

  • Blueprint for Westchester Steering Committee Member Frank McCullough Successfully Represents Pepsico

  • In what is reported as the largest project in a decade to receive County assistance, Pepsico is moving closer to realizing the $240 million renovation of its world headquarters in Purchase...


    Marissa Brett, executive director, Economic Development, the Westchester County Association with Frank McCullough inside the Pepsico World Headquarters. Photo Credit: Dan Stockfield


    ...Frank McCullough, a member of WCA's Blueprint Steering Committee, and partner at McCullough Goldberger & Staudt, LLP, successfully represented PepsiCo Inc. before the Westchester County Industrial Development Agency (IDA) with an Application for Inducement relating to Pepsico's forthcoming renovation.

    The project is the largest to receive IDA assistance in the last decade and is slated to begin sometime during the first quarter of 2013.  The renovation to modernize Pepsico's entire 440,000-square-foot office complex is expected to create 1,250 new construction jobs, welcome news for Westchester.

    According to 914inc, the company also will receive $4 million in Excelsior tax credits from New York State and is wrapping up PILOT (Payment in Lieu of Taxes) agreement with the Town/Village of Harrison and the Harrison Central School District.

    The renovation is expected to last 30 months.

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