FIRM EXPANSIONS AND CONTRACTIONS Hudson Valley Region Annual 2016 Report New York State Department of Labor Division of Research and Statistics 120 Bloomingdale Road, Room 218 White Plains, NY 10605 914-997-8798 This briefing provides information on firm-specific hiring and layoff announcements in the Hudson Valley. The information in this report is derived from press releases, newspapers, business journals, newsletters and other public sources. It does not include all expansions and contractions in the region – only those for which public information has been obtained. An attempt is made to present only current information – events that have recently occurred or will occur in the near future. BUSINESS EXPANSIONS FOR THE HUDSON VALLEY REGION January 2016 Dutchess County Northern Dutchess Hospital recently celebrated the grand-opening of its new $47 million pavilion. The three-story, 87,000 square foot Martin and Toni Sosnoff pavilion is complete with high-tech medical equipment and more patient-oriented private suites. No job numbers were announced. Orange County CVS announced plans to build a new store on Route 52 and Route 300, in the Town of Newburgh. The company is waiting for site plan approval from the town’s Planning Board. No job numbers were announced. Putnam County Stop&Shop recently signed a lease for a new 54,000 square foot store at the Lake Plaza Shopping Center. No job numbers were announced. Rockland County Autobahn Indoor Speedway, the largest indoor go-karting facility in New York, will soon open at the former Sports Authority location in the Palisades Center mall. The 40,000 square-foot facility will feature electric Formula One-inspired, Italian-made go karts capable of reaching speeds of up to 50 mph. No job numbers were announced. Syncsort Inc., a Big-data software provider, will relocate its headquarters and workforce of about 145 employees from New Jersey to new office space at Blue Hill Plaza in Pearl River. The company plans to invest $2,895,000 in its new location. Operating in a designated Start-UP NY area, Syncsort will pay no state taxes for 10 years. Employees residing in New York will pay no state personal income taxes for the first five years and for the second five years, employees will be exempt from state taxes on income up to $200,000 for a head of household and $300,000 for taxpayers filing jointly. Sullivan County Nothing to report. Ulster County Nothing to report. Westchester County Fareri Associates, in collaboration with Westchester County, announced plan to build a $1.2 billion biotech lab on undeveloped county-owned land known as the North 60 in Valhalla. Dubbed “The Westchester BioScience & Technology Center,” the campus will include 2.25 million square feet of biotech and research space, 400,000 square feet of medical office space, a 100,000 square-foot hotel with 100 rooms, 114,000 square feet of ground floor retail space and a 34,000 square-foot Children’s Living Science Center. Fareri Associates owns 20 acres next to the 60 acres of county-owned land it would rent under a 99-year lease. It is estimated that the project will create about 12,000 new jobs, including 4,000 temporary construction jobs and another 8,000 jobs once the project is completed. Real estate developer LCOR Inc. recently began construction of 55 Bank St, a mixed- use residential/commercial development project. The $250 million real estate development project will feature two 16 story buildings with each offering 3,000 square feet of retail space and a total of 561 residential units. The construction of the residential complex will be completed in two phases, with the first tower set to be completed by summer, 2017, and the second phase shortly after. It is estimated that the project will create 533 construction and permanent jobs. New York-Presbyterian Lawrence Hospital in Bronxville will open its new $60 million surgery and oncology pavilion in March, 2016. The new center, dubbed a “one- stop shop,” will offer a host of services, including on-site radiation treatment, as well as additional infusion stations and a pharmacy. No job numbers were announced. February 2016 Dutchess County Cardinal Court Apartments was granted final approval for some tax breaks. The $6.4 million project will convert an old abandoned building on Canon Street in the City of Poughkeepsie into 49 upscale apartments, two two-story penthouse units, as well as six commercial units. No job numbers were announced. Meadow View Properties, LLC., the developers behind a 288-unit apartment complex and 85,400 square-foot of commercial space in the Town of Poughkeepsie, is seeking some tax incentives from the Dutchess County IDA for the $58.5 million project. No job numbers were announced. Popeyes Louisiana Kitchen plans to open a new restaurant at the former Nellie Kelly’s Bar on Haight Avenue in Poughkeepsie. The fast food chain is awaiting site plan approval from the Town’s Planning Board. The franchise operates 51 restaurants in New York and the Poughkeepsie location would be the first in Dutchess County. No job numbers were available. Ulster Savings Bank has recently opened a new branch on Route 300 in Newburgh. The new branch offers easier access, drive-up banking and a 24-hour ATM. The bank is also scheduled to open another branch in Wappingers Falls. No job numbers were announced. Orange County National Wholesaler Restaurant Depot plans to open a new location in the Town of Newburgh. The 62,300 square-foot warehouse will be built on a 9-acre parcel of land, behind the Ramada and Super8 hotel on Route 300. The store would employ between 40 and 50 people. Putnam County Nothing to report. Rockland County Starwood Hotels and Resorts Worldwide Inc. plans to expand with 10 new hotels in New York State in the next three years. The bulk of that growth will be centered in the New York City metropolitan area, as well as one hotel in Rockland County. Starwood will open Element Spring Valley at the Spring Valley Marketplace in 2018. No job numbers were announced. Sullivan County Nothing to report. Ulster County Nothing to report. Westchester County Balducci’s Food Lover’s Market, a specialty gourmet food retailer plans to open a new store in Rye Brook. The 18,000 square-foot store is scheduled to open in the fall, and will be the company’s sixth location in the U.S. No job numbers were announced. Comstock Residential Contracting plans to build a 21-unit apartment building on Mamaroneck Avenue. The $6.5 million project is expected to create 40 construction jobs and six permanent jobs. The Westchester County IDA approved $56,000 in mortgage recording tax exemptions and $150,000 in sales tax exemptions for the project. Ha! Comedy Club, a comedy venue boasting national and local talent, is scheduled to open its doors at the Ridge Hill complex in Yonkers in early February, 2016. The club will split into two sections, with the front area offering a bar and stage for Karaoke and smaller acts, while the back half will offer a 130-people showroom. No job numbers were announced. March 2016 Dutchess County Construction broke ground recently on the Gagliardi family’s $7 million, 81-room hotel on Route 208 in South Blooming Grove. The 40,000 sq. ft. hotel will create an estimated 80 temporary construction jobs and about 20 permanent jobs once in operation. The Gagliardi family has entered into a franchise agreement with Choice Hotels brand to operate a Sleep Inn & Suites. Golden Corral, a buffet-style chain restaurant, plans to open a new eatery on Route 9 in the Town of Poughkeepsie. Construction recently began on the new restaurant, with a scheduled opening for either August or September. Prominent in the south, Golden Corral is focused on expanding into different regions nationwide following the popularity of restaurant openings in California. Once in operation, the buffet-style restaurant will create about 125 jobs, including four manager positions with an annual salary of $45,000. Silo Ridge Field Club, an upscale housing project featuring 245 residential units and an 18-hole golf course in the Town of Amenia, has finally received permit approvals from the state Department of Environmental Conservation and the Dutchess County Health Department. The $500 million project, which has been in the planning stages since 2009, is hailed as a boost for eastern Dutchess County and is projected to generate 3,000 construction jobs and 200 full-time jobs when completed. Silo Ridge is aimed at high- end buyers, with residential units ranging between $1 million and $10 million. The development will also include an indoor field house, an activity barn with a bowling alley and a movie theatre. Orange County Nothing to report. Putnam County Nothing to report. Rockland County Nothing to report. Sullivan County Nothing to report. Ulster County Nothing to report. Westchester County AvalonBay Communities, a national residential developer, is in discussion with Yonkers city officials about a 580-unit apartment complex near the downtown riverfront. The plan calls for studios, one and two bedroom apartments in a building no taller than six stories high. The Virginia-based developer has not yet submitted any formal applications with the city Planning Board. AvalonBay has built seven projects in Rockland and Westchester counties. Connecticut-based Starwood Capital Group has proposed a $300 million mixed-use development on the former site of United Hospital in Port Chester. The company purchased the property for $28 million in 2006. Starwood’s project calls for a 135-room hotel, 217,000 sq. ft. of medical office space, 90,000 sq.