Community Development Involvement
In 2008 Drapes 4 Show received a grant and bond financing package from the City of Los Angeles to move our facility and team to Sylmar California. In that time, we have enjoyed a wonderful relationship with the surrounding community and seen great revitalization to the area. Many new businesses have relocated here and the investment that the CRA and CDD have made have improved our manufacturing capabilities have, and will continue to return value to Los Angeles. Owning the realestate gives us a such a motivation to continually improve and flourish. - Jason Honigberg 2016
Below is the original story:
Recently the company moved from a 6,800 square foot facility outside of Los Angeles to a new facility in Los Angeles that’s nearly three times larger. “Before we moved here, we were so crowded we had to store raw material in the parking lot at night and desks were butted next to each other,” said Jason Honigberg, CEO of Drapes 4 Show, “It was a disaster, we couldn’t grow!”
The company even considered moving to Las Vegas until Honigberg learned about the City of L.A.’s business friendly programs. Now with a $2 million industrial development bond, administered by the Community Development Department’s Economic Development Division and the Industrial Development Authority, the company has moved to a larger space, made upgrades and has more space for additional equipment and product.
It’s a change that’s good for business, “We can now move product faster which allows us to achieve more sales that are up 16.5 percent,” added Honigberg. The move has also put Drapes 4 Show inside a State Enterprise Zone. Enterprise Zones provide tax breaks to Zone businesses to promote the hiring of local residents, and improve the economic vitality of inner-city communities. The City provides additional incentives, such as discounted electric rates for new Zone businesses. “The benefits we have realized will ultimately allow us to begin a research and development unit, which will in turn help us to expand and not ship any jobs overseas,” said Honigberg.
For more information about CDD and the IDA bond program, visit the CDD website at http://ida.lacity.org/