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LIVING IN WESTCHESTER AND THE HUDSON VALLEY | RELOCATION & MOVING GUIDE
BUSINESS
Our Ever-Expanding Economy
Westchester County and the Hudson Valley boast a diverse economy fu- eled by both small businesses and big national corpora- tions in industries including health- care, biotech, professional services, IT, distribution, and finance. A robust higher-education sector and a devot- ed nonprofit community also make impor tant contributions to the local economy. The region is also seeing a boon in development, with a plethora of new mixed-use and multi-family de- velopments going up across the county.
Residents suppor t mom-and-pop shops that dot their towns, while they are proud that the area is the chosen location for powerhouse companies like Regeneron, IBM, Mastercard, PepsiCo, Heineken, and Danone. A new power player on the scene is Lionsgate Studios, which operates 1 million square feet of stages, office, suppor t space, and city street backlots on its Downtown Yonkers campus—one of the largest dedicated video and film production facilities on the East Coast. Westchester County is also a suppor tive place for entrepreneurs and recently debuted Element 46, a county-backed business incubator poised to help launch 10-15 startups each year.
Dubbed the BioHud Valley, the area is also home to more than 80 biotech and health tech companies and leading research institutes. The biggest name in local biotech is Regeneron, which recent- ly broke ground on a $1.8 billion expan- sion in Tarrytown, which will add 900,000 square feet to its campus in the form of eight new buildings, as well as three parking garages and a utility plant. The company expects to add at least 1,000 new full-time jobs. Other important bio- sciences enterprises that call our region home are ContraFect, Curemark, Sapience Therapeutics, and the Bioincubator at New York Medical College.
Developers such as Ginsburg Development Companies, RXR Realty,
MacQuesten, Saber Chauncey, Wilder Balter Par tners, Cappelli Construction, Lennar Multifamily, Biddle Real Estate Ventures, and many others have erected or are constructing high- rise residential towers and mixed-use developments in cities like Peekskill, New Rochelle, White Plains, and Yonkers — and the increased demand for real estate in Westchester County is likely to fuel future projects. Also hot are luxury senior-living communities, including upscale developments like The St. Regis Residences, Rye, Broadview Senior Living at Purchase College, Christie Place in Scarsdale, Trump Park Residences in Shrub Oak, and Waterstone of Westchester in White Plains.
Commercial developers including The Rober t Mar tin Company, RPW Group, and Simone Development Companies are continuing to lead the way in local office, healthcare, and industrial development.
The Business Council of Westchester (BCW) works to build bridges for busi- nesses to foster economic growth and advocates for pro-business public pol- icy to promote smart growth in urban centers. The BCW, which has a diverse
membership of 1,000+ businesses and professional organizations, is an informa- tion resource for Westchester, through the BCW Data Exchange, as well as a champion of diversity, equity, and inclusion in county workplaces.
Empire State Development (ESD)
seeks to encourage a growing economy in New York State through job creation and investment. Lo- cal economies are suppor ted by real estate development, loans, tax cred- its, and grants. Mid-Hudson Regional Economic Development Council develops regional strategy and recommends state funding for the region.
Hudson Valley Pattern for Progress
is a not-for-profit policy, planning, advocacy, and research organization whose mission is to promote regional, balanced, sustainable, and equitable solutions that enhance the growth and vitality of the Hudson Valley.
Spotlight on Workforce Development
Westchester County recently kicked off a sector-based strategy for work- force development, emphasizing advanced manufacturing, bioscienc-
© COURTESY OF REGENERON
Regeneron