It all started with the acquisition of a small company that manufactured molds for chocolate. Then, in 1987 LANCO Corporation was established as a chocolate manufacturer serving the advertising specialty market (ASI) and soon after the hotel industry. In 1988, specialty chocolate was expanded to include other confectionery products and non-food promotional products. By 1991, the ASI market was further expanded when LANCO landed the Disney Cruise Lines account and other cruise line business.
During that time the company had 24 employees and optimistically projected creation of 24 new jobs over the following two years. However, the huge success of its operation led the company to larger and larger leased quarters to support increasing sales until, in August 1993 with the assistance of the LIDC/SBA and Key Bank, LANCO purchased a 20,650 sq ft building at 115 Commerce Drive in Hauppauge. This enabled the Company, in 1995, to enter the consumer retail market with innovative “upscale” confectionery products. Now on a roll, the company not only met their projected job creation goal, but exceeded it by 77 new jobs.
By 1996, all of LANCO’s markets were growing so that in the following four years, sales increased five fold. Lanco’s attributes much of their success to their excellent record of service to their customers. A proud moment came when the sixteen thousand members of the Promotional Products Association International voted LANCO recipient of the “Service Star Award” from a field of 3,100.
When in 1999, the company needed additional space for continued growth they received additional financing from the LIDC and the SBA, for a 20,000 square foot extension added to their original building. Again in 2001, the company received $250,000 from LIDC, under the NYS Defense Diversification Revolving Loan Fund for permanent working capital used to fund the company’s growth strategy for future projects.
The dynamic escalation in sales has gone hand in hand with LANCO's growing employee population, 275 in only ten years. With Brian Landow, son of the founders Irwin and Gloria, now at the helm, LANCO is undergoing yet another change. It is consolidating three buildings into one and purchasing a 70,000 square foot building located on a 6.9-acre parcel at 350 Wireless Boulevard, Hauppauge. This will be followed by construction of a 40,000 square foot extension onto the existing building for a total of 110,000 square feet.
GE Capital, Long Island Development Corporation/SBA 504 loan and the NYJDA will be financing the purchase and the new construction with an expected increase of 80 new jobs in over the next two years.
"This is the kind of dynamic growth we encourage and support," says Roslyn D. Goldmacher, President and C.E.O., LIDC. "We are constantly looking to help companies like LANCO."