Empire State Development Announces Beam Suntory Inc. will Relocate its Headquarters to New York City

Empire State Development today announced that Beam Suntory, a world leader in premium spirits, including Jim Beam and Maker’s Mark Bourbon brands, Courvoisier cognac and Suntory Whisky, will relocate its global headquarters from Chicago, IL to 11 Madison Avenue in Manhattan, bringing 150 jobs to New York City over the next five years.

Empire State Development Acting Commissioner and President & CEO-Designate Eric Gertler said, “Beam Suntory joins a long list of iconic brands and businesses that know there is no better place to be than here in the Empire State. Under Governor Cuomo’s leadership, New York is investing in its talented and diverse workforce, has the most ambitious infrastructure plan in the nation, and is creating the economy of tomorrow. Beam Suntory knows that even though we currently face many challenges due to the COVID-19 crisis, the future remains bright in New York and I am pleased that they have decided to be part of New York State as we build back better”

“As one of the world’s greatest global cities, New York provides a unique environment to help us accelerate our premiumization strategy and growth ambitions. We see excellent opportunities to immerse our company and global brand building efforts more deeply in New York’s vibrant restaurant, bar and consumer environment,” said Albert Baladi, President & CEO of Beam Suntory. “This move will put us at the forefront of the recovery in New York City, and will enable us to emerge from the current crisis squarely focused on the long term.”

In support of the relocation of the Beam Suntory corporate headquarters to New York City, Empire State Development has agreed to provide $9.9 million in performance-based Excelsior Jobs Program tax credits over the next ten years, which are directly tied to the company’s job creation commitments.

New York is home to more Fortune 500 companies than any other state in the nation, including American Express, IBM, Pepsi Co and Pfizer. Beam Suntory joins other businesses that have had corporate expansions in the past year in New York State including Plug Power, who recently announced their new gigafactory in Monroe County.

Assembly member Richard Gottfried said, “It’s great news that Beam Suntory is joining other major businesses that choose to locate their global headquarters in the Flatiron District.  But it’s not a surprise, because the heart of Manhattan remains a great place to work, live, shop, or dine.  I welcome Beam Suntory to the historic Metropolitan Life North building, which celebrated the twenty-fifth anniversary of its designation on the National Register of Historic Places exactly a week ago today,”

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About Empire State Development

Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of “I LOVE NY,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov.

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About Beam Suntory

As a world leader in premium spirits, Beam Suntory inspires human connections. Consumers from all corners of the globe call for the company’s brands, including the iconic Jim Beam and Maker’s Mark bourbon brands, Suntory whisky Kakubin and Courvoisier cognac, as well as world renowned premium brands including Knob Creek, Basil Hayden’s and Legent bourbon; Yamazaki, Hakushu, Hibiki and Toki Japanese whisky; Teacher’s, Laphroaig and Bowmore Scotch whisky; Canadian Club whisky; Hornitos and Sauza tequila; EFFEN, Haku and Pinnacle vodka; Sipsmith and Roku gin; and On The Rocks Premium Cocktails.

Beam Suntory was created in 2014 by combining the world leader in bourbon and the pioneer in Japanese whisky to form a new company with a deep heritage, passion for quality, innovative spirit and vision of Growing for Good. Headquartered in Chicago, Illinois, Beam Suntory is a subsidiary of Suntory Holdings Limited of Japan. For more information on Beam Suntory, its brands, and its commitment to social responsibility, please visit www.beamsuntory.com and www.drinksmart.com.