Page 44 - Westchester Economic Development Guide - 2017 PDF

NEWS YOU CAN USE THE OFFICE OF ECONOMIC DEVELOPMENT AND OTHER ORGANIZATIONS
WE’RE HERE
FOR YOU
Westchester offers wide-ranging support, resources and fi- nancial assistance and tax Incentives to help you relocate, launch or expand your business here.
WESTCHESTER COUNTY
OFFICE OF ECONOMIC
DEVELOPMENT
www.westchestersmart.com
The Westchester OED promotes and en- courages economic development and job growth by providing business resources and financial assistance through our Industrial Development Agency (IDA) and a wide range of related services and incentives to attract and retain busi- nesses, as well as collaborating to put businesses and opportunities together in Westchester County.
When it comes to business, we recognize that one size does not fit all. That’s why we offer assistance in a wide variety of ways, including:
economic development in the county with the primary goal of assisting in the creation and retention of jobs.
The IDA offers such benefits as:
• Mortgage recording tax exemption
on the purchase or financing of land or a facility
• Sales tax exemptions that support construction, renovation and expan- sion
• Taxable or tax-exempt bonds
In 2016, the IDA supported projects which accounted for more than $200 mil- lion in private investment in a wide vari- ety of sectors, including housing, biotech, multi-family, mixed use development, historic building renovation and hospi- tality, as well as renovation and recon- struction efforts. These projects will also account for more than 1,400 new or re- tained permanent and construction jobs.
The largest projects the IDA has supported this year include: an $80 million renovation and upgrading of a county airport hangar; renovation and new construction on Dannon Foods’ new US Headquarters; and substantial new housing projects.
THE WESTCHESTER
LOCAL DEVELOPMENT
CORPORATION (LDC)
www.westchesterldc.com
The LDC provides low-cost, tax-exempt bond financing for non-profit organiza- tions. Since its creation in 2013 by Coun- ty Executive Rob Astorino, it has:
• Provided more than $800 mil- lion in tax exempt financing to hospitals, institutions of higher education and schools, nursing
homes, libraries and social service agencies, such as the Guiding Eyes for the Blind.
• Helped to renovate critical infra- structure expansion for non-prof- its, which has created more than 1,500 permanent and construction jobs since 2013.
“The $230 million construction of the Westchester Medical Cen- ter Ambulatory Center is the single biggest financing for our LDC to date and by working to- gether with Westchester Medical Center, we are improving health- care outcomes and creating jobs, which is a winning combination.”
—Westchester County Executive Robert P. Astorino
Learn more about the new Ambulatory Center on page 32.
THE WESTCHESTER-
PUTNAM ONE STOP
EMPLOYMENT CENTER
www.westchesterputnamonestop.com
The Westchester-Putnam One Stop Em- ployment Center can connect businesses with a highly skilled workforce by post- ing open positions, screening candidates and providing on-the-job training.
THE WESTCHESTER COUNTY INDUSTRIAL DEVELOPMENT AGENCY www.westchesterida.com
The IDA is a public benefit corpora- tion created to promote and encourage
42 WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE