Arizona Iced Tea
Arizona Iced Tea is a homegrown New York company, and Arizona Beverage Founder & Chairman Don Vultaggio wanted it to stay that way. Arizona Iced Tea has been headquartered in Nassau County, NY since the 1990’s and has built a successful business that is now one of the largest beverage companies in the U.S., with annual sales of approximately $600 million and a 36% share of the retail ready-to-drink tea market. The company has also served as an anchor for Nassau County’s food and beverage industry, which has recently attracted investments by other big names such as Snapple and Kozy Shack.
Arizona Iced Tea faced a major challenge when it outgrew its headquarters in Nassau County’s Lake Success, NY in the mid-2000’s. Faced with pressure to move its headquarters to New Jersey to be near one of the company’s manufacturing plants, Don Vultaggio made a commitment to Nassau County’s economic future by working with the Nassau County IDA to maintain the company’s headquarters within the county.
The Nassau County IDA worked with the Arizona Iced Tea leadership team to secure financing for the construction of a 100,000 square-foot office building in Woodbury, NY, as well as the installation of the necessary fixtures, machinery and equipment the company needed. In total, the new $35-million corporate headquarters received $3.79 million in financial assistance from the IDA. In addition, the IDA facilitated sales and property tax incentives, helping mitigate the company’s tax burden for years to come.
Arizona Iced Tea moved to the new headquarters in October 2009, adding 60 new employees as part of the expansion. The IDA recently assisted with an additional expansion that will add 100,000 square feet to the company’s headquarters and create 15-20 new jobs. Now that’s a sweet deal.