The future looks bright for Westchester County in 2016, but there’s work to be done to spur further economic growth, said panelists at the Westchester County Association’s Economic Forecast Breakfast on January 7, which attracted over 300 business leaders who gained a deeper understanding of global, national, and local trends driving the economy in the year ahead.
When a Realtor tells you a house has “good bones,” it means the house is well structured. It may need a little work, but you have a solid framework on which
to build. Well, Westchester has great bones. And the building has begun in earnest. By our rough count, more than 50 major real estate projects have been proposed, started, or recently completed in the county.
For the past six weeks, 26 long-term unemployed individuals had a new reason to get up every morning, thanks to the WCA and the ‘Jobs Waiting’ program, a $9.8 million federal Ready to Work grant managed by the WCA. Known regionally as “Jobs Waiting,” the program provides specialized training and support services to 425 long-term unemployed individuals in the Hudson Valley. On Friday, the WCA hosted a graduation for its first ‘boot camp’ participants, some of whom already have job applications out and interviews lined up with top employers in the region.
Residential development is booming in Westchester, but there’s nary a two-car garage or cul-de-sac in sight. Real estate companies are developing, constructing, and opening apartment buildings in the county at an unprecedented rate, according to informed sources. Just this week, news broke that Valhalla-based developer Martin Ginsburg wants to build a 55-unit luxury apartment building at 1177 Warburton Avenue in Yonkers, just one block north of a 330-unit Ginsburg Development Companies apartment building now under construction. Lighthouse Enterprises, whose three luxury rental buildings in White Plains are nearly fully leased, broke ground this spring on a 50-unit apartment building in Port Chester. Harrison, New Rochelle, Bronxville, Tarrytown, and Dobbs Ferry also have apartment projects in the works.
Nearly 500 companies moved or expanded in walkable downtowns over the past five years. A new report, released last month, explains why—and some of the reasons may surprise you.