Buon’Italia’s 3,000-square-foot shop in New York City’s Chelsea Market has been providing its imported Italian staples to downtown foodies since 1997, and has been wholesaling and distributing to New York restaurants for nearly four decades prior to that. In 2015, Buon’Italia’s founder, Domenico “Mimmo” Magliulo, and his family embarked on a plan to expand the company’s wholesale distribution capabilities, choosing to establish a 27,500-square-foot warehouse on Port Jersey Blvd. in Jersey City.
When Magliulo made the strategic decision to locate Buon’Italia’s wholesale operations in Jersey City, he turned to the New Jersey Economic Development Authority’s (EDA’s) Premier Lender Program for support. A Fulton Bank loan with a nearly 26 percent EDA participation helped the company acquire its new facility. Fulton Bank is one of EDA’s approximately 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 Magliulo. “The support provided by Fulton Bank and the EDA has truly helped to facilitate our expansion.”
EDA Chief Executive Officer Melissa Orsen visited Buon’Italia today to raise awareness of the Premier Lender Program and the range of other low-cost financing solutions offered by the EDA to support the growth of small businesses in New Jersey. She was joined by Angelica Lyons, commercial lender, 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,” said EDA Chief Executive Officer Melissa Orsen. “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.”
Buon’Italia celebrated another milestone in its growth on September 28, with a grand reopening at its new location at The Chelsea Local, the subterranean space of Chelsea Market. Magliulo states, “It has been an honor to be a tenant of Chelsea Market for over 20 years. We have seen the market evolve and flourish. We were thrilled in September to celebrate this major expansion and the redesign of our store along with the other vendors,” Magliulo stated.
To learn more about EDA resources for small businesses, visit www.njeda.com/lookherefirst and follow @NJEDAWasHere on Twitter and LinkedIn.
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