"The opening of our new, state-of-the-art facility in Newark, NJ is an important step toward strengthening Mimeo.com's production, distribution and overall time to market on the east coast," says CEO Adam Slutsky. "It also allows the company to confidently offer a multiple location production model that many of our clients demand. Newark affords us many advantages including its proximity to a major transportation hub, distance from our Manhattan-based headquarters, a skilled labor pool and the support received from the Mayor's office and the State of New Jersey."

A $25-million round of financing--led by Goldman Sachs Principal Strategies Group-- contributed to the new Newark facility; the opening of a sales office in San Mateo, CA; and technology upgrades. Mimeo's original facility is located in Memphis, TN.

The state also threw its support behind Mimeo.com's expansion through its Business Employment Incentive Program, which provides annual cash grants to projects relocating or hiring new jobs in the state. Additional technical assistance for site plan approval and permit processing within the City of Newark was provided by the city's economic development corporation, Brick City Development Corp.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.