Page 40 - 2022 Westchester County Economic Development Guide

One Million Strong Westchester County Office of Economic Development
Here For You
Westchester offers resources, assistance and expertise to help businesses across diverse sectors to thrive.
WESTCHESTER COUNTY OFFICE OF ECONOMIC DEVELOPMENT
www.westchestercatalyst.com
The Westchester County Office of Economic Development attracts and retains businesses and talent, offering business resources and financial assistance through the Industrial Development Agency (IDA), the Local Development Corporation (LDC) and a range of business services.
Westchester Office of Economic Development Director Bridget Gibbons highlights the office’s current ini- tiatives geared towards supporting Westchester’s economy and business community.
Westchester Office of Economic Development Director
Bridget Gibbons
What are the main priorities for the Office of Economic Development in the coming year?
Our primary focus for 2022 is to implement the Sector-Based Economic Development Strategy we’ve developed over the past year. We continue to refine our focus on four key sectors: Biosciences, Advanced Manufacturing, Fintech (Financial Technology) and Clean Energy.
Talk about your work in the Biosciences Sector.
In biosciences, we’ve made significant progress, which is giving us a clear understanding of the challenges and opportunities of this sector. One key priority is to help fill any gaps in our
growing biosciences workforce, and we are committed to helping ensure there’s a strong pipeline of workers. Real estate presents another challenge: many growing biosciences companies have the need to graduate from an incubator space, to a step out space. We are consulting with experts on the best ways we can help support that. Finally, we’re developing incentives to help retain biosciences companies in the County.
What about Advanced Manufacturing?
In the area of Advanced Manufacturing, we are rolling out a certificate program where workers can learn entry level, basic skills so that they can be attractive hires in that sector. That program will commence in March.
What’s new on the Clean Energy front?
In the areas of clean energy, we’re applying for a Good Jobs Challenge grant. The Good Jobs Challenge is a national program that’s allocating $500 million to collaborative skills training systems and programs. Through Good Jobs, we want to identify training in the clean energy sector to ensure that any relevant training in the State is accessible to Westchester County residents. We are also partnering with a workforce development consultancy called Soulful Synergy, that specializes in pre-apprenticeship training in the construction industry. (Read more about Soulful Synergy on page 50.)
What’s the latest with Fintech?
In the area of Fintech, there is an Element 46 (E46) training program for more advanced startups to help them fine tune their business and get them ready for investors. There are a lot of
Westchester-based investors and we’ll be bringing them together so that they are aware of all the investment opportunities available locally. This means that now E46 is not only an incubator, but an accelerator.
How can a business reach out to seek assistance from the OED?
It’s easy! Call me at 914-995-2900 and we can discuss how we and our partners can help you.
OTHER ENTITIES
THE COUNTY OF WESTCHESTER INDUSTRIAL DEVELOPMENT AGENCY www.westchestercatalyst.com/ Programs-Incentives
Created to promote and encourage economic development in the County, The IDA is an agency focused on helping to create and retain high-quality jobs, by offering mortgage recording tax exemptions, sales tax exemptions and taxable or tax-exempt bonds.
Annually, the IDA supports projects which account for hundreds of millions of dollars in private investment in housing, biosciences, mixed-use devel- opment, historic building renovation and reconstruction.
THE WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION (LDC) www.westchestercatalyst.com/ Programs-Incentives
Provides low-cost, tax-exempt bond financing for non-profit organizations and public benefit corporations. Since its creation in 2013, it has:
• Provided more than $1.17B in tax exempt bond financing to hospitals, schools, nursing homes, libraries and social service agencies.
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WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE