Lt. Gov. Kim Guadagno was on-hand this afternoon in Swedesboro as wholesale food distributor BK Specialty Foods Inc. cut the ribbon on its new, roughly 40,000-square-foot headquarters.
The move to South Jersey serves as a complete relocation for the company, which had based in Philadelphia since it was formed in 1986. The facility will create 10 new jobs in Swedesboro in addition to the 55 it is bringing over from Philadelphia.
The company began operations in Swedesboro last month.
President Brett Kratchman said a slew of business incentives made possible by the state Economic Development Authority and other entities were what enticed the company to make the move across the Delaware River. Kratchman said the company did look for a new facility in Philadelphia but ultimately found that the best business opportunity was offered in Swedesboro.
The EDA approved BK Specialty Foods for a $333,022 business employment incentive grant and also let the company utilize its statewide loan pool program to help acquire both the building as well as new equipment and machinery. The company received a $2.43 million commercial mortgage loan from Sovereign Bank which featured a participation of $1.08 million from the EDA.
"Little by little, we were able to get things to a point where a deal could be made," Kratchman said. "We were basically wooed. They made it worth our while."
Kratchman said the area's accessibility to major thoroughfares and near proximity to Philadelphia also made it an attractive location.
Guadagno said BK Specialty Foods now has a "fantastic New Jersey story to tell," pointing to the list of incentives that make the state appealing to do business in.
"You are now all ambassadors to what is good about New Jersey," Guadagno said.
The company distributes roughly 6,000 products to customers including ShopRite, the Ritz-Carlton and a handful of Atlantic City hotels, including the Borgata and Caesars.