• Yonkers Sees Big Population Growth As Unemployment Hits Six-Year Low, Attracts Hi-Tech Jobs

  • JUNE 05, 2014 | ECONOMIC DEVELOPMENT, REAL ESTATE

  • County's Largest City Poised for Growth in Westchester's Innovation Economy

  • Mayor Mike Spano announced this week that preliminary data released by the state points to a renaissance in Yonkers. The report from the New York State Department of Labor shows the city's unemployment rate dropped nearly 2%...


     
    Investors tour Ridge Hill, Yonkers' newest neighborhood during the Westchester County Association's BLUEPRINT City Showcase of the City in 2013.

    …to a near six-year low of 5.7%. Meantime, Westchester's largest city saw its population spike by 4,000, making it the fastest-growing city in New York State outside of neighboring New York City and has attracted 100 new tech jobs.

    "Accompanying the increase we've experienced in sales revenue and home sales, the downward trend in unemployment and rise in population over the last several years are more positive signs of the growth of our economy -- proving people and businesses are choosing Yonkers to live, work and play," said Mayor Spano.

    Among those who are working in Yonkers are the employees of Mindspark, a technology company, wooed to the city through IDA financing. Mindspark has added added 100 high-paying jobs in the sector in the city's high-tech office campus, iPark Hudson, adjacent to the booming Kawasaki light rail facility.The facility is also home to ContraFect, a biotechnology company that brought 40 full-time jobs to Westchester—and potential to add up to 200 jobs in the next few years. 

    In 2013, the Westchester County Association held a BLUEPRINT City Showcase of Yonkers to tout the city's abundant resources and development opportunities. Over 150 developers, real estate brokers, architects, investors, and engineers attended the half-day tour of the city. The group toured the city's downtown waterfront where they saw the transformation of the former Otis elevator facility into cutting-edge space housing software developers, biotech companies, and communication products.  

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