Page 55 - Busienss Council of Westchster - Relocation & Moving Guide 2020

BUSINESS
OUR THRIVING ECONOMIC SCENE
Westchester County and the Hudson Valley is home to a booming business scene, fueled by small businesses and large corporation alike, which is attracting a boon of transit-oriented mixed-use development projects across the region.
I t’s hard to drive through Westchester’s downtowns with- out noticing construction cranes all around. Rising from many lo-
cal Main Streets, these cranes are proof of the tidal wave of transit-oriented de- velopment projects currently underway across the county. Westchester’s thriving economic scene, ample pool of educated employees, and desirable lifestyle have captured the attention of real estate de- velopers who are building mixed-use com- munities (residential, retail, restaurant, and office space) near transit hubs to fill the demand for urban-suburban living.
Businesses such as Ginsburg Development Companies (GDC), RXR Realty, and many others have erected or are constructing high-rise residential towers in cities like Peekskill, New Rochelle, White Plains, and Yonkers, and are pumping mil- lions of dollars into the county’s economy. New hotels, including the just-opened Abbey Inn & Spa in Peekskill and a 24-sto- ry, 225-room TRYP By Wyndham prop- erty that was recently approved in New Rochelle, show the county’s economic prowess in the hospitality sector. And commercial developers like The Robert Martin Company, RPW Group, and Simone Development Companies contin- ue to build office, healthcare, and indus- trial facilities that are highly in demand.
Behind this bullishness from develop- ers lies the fact that Westchester County and the Hudson Valley boast a diverse and thriving economy. It is fueled by small businesses and big national corporations, plus a robust higher-education sector, and a thriving nonprofit community that has a huge impact on the local economy.
Residents support mom-and-pop shops that dot their towns, while they are proud that the county is the chosen loca- tion for powerhouse companies like IBM, Mastercard, PepsiCo, Heineken, and Danone. The county is a supportive place for entrepreneurs and recently debuted Element 46, a county-backed business in- cubator poised to help launch 10-15 start- ups each year through a combination of mentoring, skills training, professional ser- vices assistance, and workspace assistance.
Dubbed the BioHud Valley, the area is also home to more than 80 biotech and health tech companies and leading research institutes, including Regeneron, Acorda Therapeutics, Curemark, Contrafect, and the BioInc@NYMC incubator at New York Medical College. The Robert Martin Company recently announced a life sci- ences/health tech initiative to bring its commercial real estate prowess to this sector. There are also plans to develop a biotech mixed-use campus on the North 60 property adjacent to Westchester Medical Center in Valhalla, a project that will no doubt cement the region’s reputa- tion as a thriving biotech hotspot.
One of the area’s most influential organizations, Business Council of Westchester (BCW) works to build bridges for businesses to foster economic growth. In 2018, the organization launched the anticipated BCW Data Exchange, an on- line data center that provides current and prospective Westchester businesses, not- for-profit organizations, and governments with a user-friendly source for current de- mographic information, statistical analysis, and trend data about Westchester County.
Empire State Development (ESD)
seeks to encourage a growing economy in New York State through job creation and investment. Local economies are support- ed by real estate development, loans, tax credits, and grants. The New York State Urban Development Corporation and the Department of Economic Development fall under ESD.
Hudson Valley Pattern for Progress, a not-for-profit policy, planning, advocacy, and research organization, conducts the research for the data exchange. BCW provides current information on the orga- nization’s website on issues that impact local business, including demographics, workforce data, housing, education, local government, transportation, infrastruc- ture, and real estate trends.
The business scene in Westchester County and the Hudson Valley is growing tremendously, creating opportunities and new jobs for countless residents.
RESOURCES
Empire State Development esd.ny.gov 845.567.4882 (Mid- Hudson Region office in New Windsor)
WESTCHESTER COUNTY
The Business Council of Westchester White Plains 914.948.2110 thebcw.org
Westchester County Office of Economic Development
White Plains 914.995.2963 business.westches tergov.com
ORANGE COUNTY
Hudson Valley Pattern for Progress Newburgh 845.565.4900 pattern-for-progress. org
Orange County Chamber of Commerce Montgomery
845.457.9700 orangeny.com
Orange County Partnership Goshen 845.294.2323 ocpartnership.org
ROCKLAND COUNTY
Rockland Business Association
Pearl River 845.735.7040 rocklandbusiness.org
Rockland Economic Development Corporation
Pearl River 845.735.7040 redc.org
PUTNAM COUNTY
Putnam County Business Council Mahopac 845.228.8595 putnamchamberny.org
Putnam County Economic Development Corporation Carmel 845.808.1021 putnamed.org
LIVING IN WESTCHESTER AND THE HUDSON VALLEY | RELOCATION & MOVING GUIDE 45