Page 74 - Westchester 2022 Relocation & Moving Guide

BUSINESS
Our Resilient Economy
The Hudson Valley’s resilient economy, which boasts great strength in essential industries including healthcare, biotech, professional services, IT, distribution, and finance, has played a key role in helping to weather the economic storm that has endured throughout the coronavirus pandemic. Westchester County and the Hudson Valley boast a diverse economy fueled by both small businesses and big national corporations, plus a robust higher- education sector and a devoted 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 area is the chosen location for powerhouse companies like Regeneron, IBM, Mastercard, PepsiCo, Heineken, and Danone. Westchester County is a supportive 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, including Regeneron — which developed a highly visible drug cocktail for treating COVID-19 — and Acorda Therapeutics, ContraFect, Curemark, Sapience Therapeutics, Clarapath, CBLPath, and the Bioincubator at New York Medical College.
Developers such as Ginsburg Development Companies, RXR Realty, MacQuesten, AvalonBay Communities, Saber Chauncey, Wilder Balter Partners, Cappelli Construction, Lennar Multifamily, Lighthouse Landing Venture, and Street- Works Studio, 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 active-adult communities, including
new developments like The St. Regis Residences, Rye and Broadview Senior Living at Purchase College.
Commercial developers including The Robert Martin Company, RPW Group, and Simone Development Companies are expecting our office, healthcare, and industrial facilities to increase in popularity as companies shift their workforces to suburban locations for increased safety and economic efficiency.
The Business Council of Westchester (BCW) works to build bridges for businesses to foster economic growth and advocates for pro-business public policy to promote smart growth in cities. TheBCWplaysakeyroleinhelping businesses navigate the economy and has also become an information resource for Westchester 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. Local economies are supported by real estate development, loans, tax credits, and grants. Mid- Hudson Regional Economic Development Council develops regional strategy and recommendsstatefundingfortheregion.
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
All eyes are on workforce development in the Hudson Valley, as leaders in just about every sector of the economy focus on building our business community back even stronger than it was before the crisis. Leaders are doing all they can to train workers and connect jobseekers withemployers.
Westchester County recently kicked off a sector-based strategy for workforce development, emphasizing advanced manufacturing, biosciences, financial technology, and clean energy. Each sector has a task force made up of employers, civic organizations, and higher-education institutions providing guidance, as well as a “desk” at the county that employers can call for information on relocating to Westchester or connecting with resources in the sector. The County also introduced Launch 1000, a program to help workers launchabusinessoradditionalincome
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