By Joshua Burd
An Italian food market has expanded its wholesale capabilities with a new warehouse in Jersey City, thanks in part to a financing program under the state Economic Development Authority.
The EDA announced that Buon’Italia, which operates a shop in Manhattan’s Chelsea Market complex, has established a 27,500-square-foot facility on Port Jersey Boulevard. The operator will use the space to support its wholesaling and distribution business to New York restaurants.
Buon’Italia embarked on the expansion under the EDA’s Premier Lender Program, according to a news release from the authority. The business used a Fulton Bank loan with a nearly 26 percent EDA participation to acquire its new facility.
Fulton Bank is one of EDA’s roughly two dozen Premier Lender partners.
“Jersey City offers many logistical advantages including access to major ports, highways, and Hudson River crossings, while still remaining close to the heart of our existing customer base,” said Domenico Magliulo, Buon’Italia’s founder. “The support provided by Fulton Bank and the EDA has truly helped to facilitate our expansion.”
Melissa Orsen, the authority’s CEO, visited Buon’Italia this week to raise awareness of the Premier Lender Program and the EDA’s other low-cost financing solutions to support the growth of small businesses in New Jersey. She was joined by Angelica Lyons, a commercial lender with Fulton Bank.
“We welcome Buon’Italia to the state and encourage all companies looking to expand or invest in their operations to look to the EDA first so they can be informed of all financing options available to support their growth in New Jersey,” Orsen said. “Our highly skilled labor pool, perfect location, and world-class infrastructure have attracted scores of distribution and warehouse centers to the state. Together with a booming food and agriculture industry, New Jersey is an ideal home for Buon’Italia as it continues to grow.”
