SUPRA | EMSCO ACQUIRES 9.6 ACRES FROM PIDC TO CONSTRUCT NEW HEADQUARTERS IN WEST PARKSIDE
The $20.3M project includes one of the largest allocations of New Markets Tax Credits in PIDC’s history and the largest allocation PIDC has committed to any project within the last 10 years.
PHILADELPHIA, PA (January 13, 2021) – SUPRA | EMSCO, a Minority Business Enterprise (MBE) and Disadvantaged Business Enterprise (DBE), acquired 9.6 acres of land from PIDC within a HUBZone and Opportunity Zone to construct a new office, cryopreservation facility, and safety stock warehouse in West Parkside. On track for an early 2021 ground breaking, the project has received one of the largest allocations of New Markets Tax Credits in PIDC’s history and the largest allocation PIDC has committed to any project within the last 10 years.
“PIDC could not be more thrilled to support the growth and success of SUPRA | EMSCO as the company enters its next phase of development with this new, world-class facility in West Parkside,” said Anne Bovaird Nevins, PIDC president. “This project will not only meet a critical need in the market for medical supplies and support the development of life-saving therapeutics, but it will provide new, quality job opportunities for West Philadelphia residents. We commend the leadership of SUPRA | EMSCO for their vision and commitment to this development and the community!”
SUPRA is an African American owned enterprise in the office products industry, supporting a national account base. With the 2015 acquisition of EMSCO, SUPRA is able to apply its supply chain distribution technology platform and logistics, combined with its proven experience and success, to enhance EMSCO’s customer experience and market penetration. The company will move from their current headquarters of approximately 20,000 square feet of office and warehouse space to a new 70,000 square foot facility on 9.6 acres of industrial land at 4801 West Jefferson Street in the West Parkside Industrial Park in Philadelphia, PA. The project includes new construction of a 40,000 square foot one-story advanced warehouse facility adjoined to a 30,000 square foot three-story office building.
“We are grateful to God, and we thank our customers, associates, and business partners for their contributions to this momentous achievement. SUPRA | EMSCO’s goal is to create employment opportunities for our extended community while creating a legacy for generations to come,” said Lin Thomas, chairman & CEO of SUPRA | EMSCO.
The new facility will also include a biorepository/freezer farm facility devoted to the processing and storage of human/animal cell & tissue samples for use in cell and gene therapy and immuno oncology research. The new location will expand capacity and capability to receive, store, and ship customer products. It will also provide for safety stock demands of pharmaceutical, research, and hospitals. The company plans to hire 50-70 new employees from the West Philadelphia community.
PIDC worked closely with SUPRA | EMSCO over a period of three years on a complex financing structure that involved a $16.0M New Markets Tax Credits allocation from PIDC, a $3.5M New Markets Tax Credits allocation from Reinvestment Fund, a $2,750,000 Redevelopment Assistance Capital Program grant from the Commonwealth of Pennsylvania, and additional financing from PIDC, Reinvestment Fund, LISC, and Wells Fargo Bank.
The West Parkside Business Park has made a significant contribution to the Parkside community creating nearly 600 jobs in the process. Acquired from Conrail in 1987, this 67-acre park was planned to attract as many businesses as possible in need of a central location to serve the needs of businesses’ customers in Center City and University City. PIDC has helped with the management, acquisition, and improvement of the Business Park, attracting companies such as SUPRA | EMSCO, Cintas, Verizon, Comcast, Lowes, Shoprite, and Silvi Companies to West Parkside.
PIDC is Philadelphia’s public-private economic development corporation. A non-profit founded in 1958 by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC’s mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. Over the last 62 years, PIDC has worked with a diverse range of clients and settled over 7,500 transactions – including more than $17 billion of financing and more than 3,200 acres of land sales which have leveraged over $30 billion in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia. For more information about PIDC, visit www.PIDCphila.com and follow @PIDCphila on Twitter, Instagram, and Facebook.
About SUPRA | EMSCO
Based in Pennsylvania, SUPRA Office Solutions, Inc. (SUPRA) is an organically grown, independently operated, office products & service company (including office supplies, paper, technology, janitorial, breakroom and office furniture, delivery, installation, design/layout & project management). SUPRA was founded in June of 2011 and is the culmination and product of over 100 years of diverse business experience of its founders (Marlin “Lin” Thomas, Charles “Ken” Carter, Derrick A. Suswell, Ismail A. Shahid) and key associates in the areas of accounting, finance, marketing, IT Systems, customer service, management, taxation, and more specifically in the office products and service industry. Founded in 1980 in Philadelphia, EMSCO Scientific, Inc. (EMSCO) is respected in the industry as a provider of laboratory & research supplies, excipient chemicals, industrial chemicals, equipment, and services. EMSCO was acquired by SUPRA in April 2015. With the acquisition of EMSCO, SUPRA is able to apply its supply chain distribution technology platform & logistics, combined with its proven experience and success, to enhance EMSCO’s customer experience and market penetration.