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Pepsi Beverages Company to Stay in Westchester
Westchester County Executive Rob Astorino announced today that thanks to the help of financial inducements from the County's Industrial Development Agency and the state, Pepsi Beverages Company (PBC), the bottling division of PepsiCo Inc., will remain at its headquarters in Somers.
"Just a few years ago, the company was being wooed by Connecticut, and there was every indication it was going to leave Westchester, taking with it about 900 jobs," said Astorino. "Now, the company will stay here and expand. I look forward to strengthening our partnership in the future."
Under terms of a new five year lease, PBC will remain heaquartered at 1 Pepsi Way through the end of 2015. The company also plans to expand the building from 390,000 square feet to 540,000 square feet.
The Westchester County IDA this morning approved exemptions from sales tax and use tax on the purchase, installation and maintenance of building materials, furniture and equipment. That is in addition to a $4 million grant provided by the Empire State Development Corporation to PepsiCo to invest in the Somers facility.
In return, PepsiCo promises to invest up to $9 million in the project and will retain the 860 full-time jobs and bring 22 new jobs to the Somers headquarters building.
It's estimated that PepsiCo, whose worldwide headquarters is based in Purchase, is directly responsible for more than 10,000 jobs in New York State.
"Because Pepsi is such a well-known company, when it chooses Westchester and stays in Westchester, it helps bring other companies to the area as well," said U.S. Senator Charles Schumer. "We thank Pepsi for the faith they're showing in Westchester and in New York."
Pepsi Beverages Company CEO Eric J. Foss said "The Pepsi enterprise has had a long and successful history in New York. We've always been proud to play a positive role in the communities in and around Westchester County, and we're eager to continue doing so in the years ahead."
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