Economic development is white hot again in Westchester County. As we gear up for the year ahead, we celebrate 12 transformative projects that the WCA has helped to drive behind the scenes in 2014!
It is the largest and most significant economic development initiative in New Rochelle's history: City officials approved a deal with RDRXR, a master developer that will oversee the development and revitalization of the city's downtown district with mixed-use and transit-oriented development projects, the kind of development long advocated for by the WCA's BLUEPRINT for Westchester.
Through its Pitch Nights, BLUEPRINT Accelerator Network, and new networking groups, Accelerate Westchester (for startups) and Innovate Westchester (for the research community), the WCA has launched a new entrepreneurial ecosystem to support the county's early stage companies as they start and grow their companies here. Financial resources, industry expertise and mentoring, and the opportunity to meet like-minded innovators are just a few of the resources the WCA provides to drive economic growth in the entrepreneurial sector.Pictured above: The Digital Arts Experience showcases 3D Printing technology at Health Tech '14. Lynda Shenkman Curtis photo. 7. Westchester's Higher Ed Boom
The state of higher education in Westchester has never been stronger. With major growth and construction projects occurring in several of the county's educational institutions--the EF International Academy, Iona College, Mercy College, and Pace University, to name a few--the education sector is creating jobs, too. The WCA's Higher Education Committee drives collaboration between education and business leaders to prepare a workforce tooled with skills needed by 21st century businesses.Pictured above: Pace University's potential new look.8. Hot Spot BioInc@NYMC Launches
The opening of BioInc@NYMC, a new biotechnology incubator at New York Medical College offering shared lab space and resources to innovative startups, was another milestone for Westchester's burgeoning health tech sector, which is creating breakthrough pharmaceuticals, digital technology, therapies, and revolutionary treatments. NYMC Dean Rob Amler said the new incubator will springboard off the innovations highlighted at the WCA's Health Tech conference, and bring medicine into the 21st century.Pictured above: Dr. Rob Amler, NYMC; Marissa Brett, WCA; Randi Schwartz, NYMC 9. Residences at Corp. Park Drive
This is exactly what Westchester needs! Work.Live.Play is coming to the Platinum Mile in the town of Harrison! Pending approvals by the town's planning and zoning boards, this transformative joint project between Normandy Real Estate Partners and Toll Brothers would transform vacant office buildings into a 421-unit apartment building and connect it to existing on-site amenities. The WCA's BLUEPRINT has long-championed this kind of mixed-use development as critically important to attracting young professionals to Westchester--an important direction for developing Westchester's current and future economy.Pictured above: Ariel view of Corporate Park Drive10. County Unemployment Dips Again
Westchester's economic transformation is generating jobs. Among the employers adding jobs in 2014 were MasterCard Worldwide in Purchase and Acorda Therapeutics in Ardsley. At the same time, Westchester's unemployment rate continues to decline. At 5 percent, the County's rate is lower than both New York State's and New York City's overall rates. Add to that annual events such as the WCA's collaborative job & internship fair, Recruit Westchester (pictured above), and Westchester's job outlook looks very bright.Source: NYS DOL's Local Area Unemployment Statistics Program. Photo credit: Lynda Shenkman Curtis11. Mamaroneck Says 'Yes' to TOD
The Village of Mamaroneck said "yes" to transit-oriented development (TOD) when village trustees voted 3-1 to rezone areas of the village within walking distance of major transportation hubs. The move could bring major investment, rehabilitation, and development to the village's downtown. New development will also help the village address flood-control issues after heavy rains.12. Movement on Showcased Properties
Nearly all of the properties featured in the WCA's City Showcases—in White Plains, Yonkers, New Rochelle, and Peekskill—have seen activity in 2014. Our goal was to promote the tremendous real estate assets, public/private redevelopment opportunities, excellent transportation, and strong infrastructure Westchester County has to offer. Through the WCA's BLUEPRINT for Westchester economic development campaign, driven by strong partnerships between leaders in real estate, business and higher education and in collaboration with county and city government, we are creating an environment where companies can grow and flourish.
Pictured above: City Showcase attendees return from a bus tour of development possibilities. Photo credit Lynda Shenkman Curtis
Westchester's economic renaissance has begun.
Join us as we help to facilitate growth in the region for the digital healthcare industry, the general business community, and serve as a voice for the interests of business in Westchester County in 2015 and the years ahead.