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Hudson Valley Region, December 2015

FIRM EXPANSIONS AND CONTRACTIONS

Hudson Valley Region

December 2015

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

Dutchess County
Bellefield at Hyde Park
is the recipient of a $2.25 million grant from the Mid-Hudson Regional Economic Development Council. The $94 million mixed-use development project has two phases. The first phase will feature two hotels with a total of 250 guest rooms, a 15,000 square-foot conference center, one freestanding restaurant, a 15 square-foot spa and 48,000 square feet of leased retail space and other amenities. The second phase will include the construction of about 500 units of housing. It’s estimated that phase one will create about 550 construction jobs and 369 permanent jobs with an average pay of $16.22 per hour.

Northwestern Mutual, a financial planning firm, plans to open an office in Poughkeepsie. The company intends to recruit 15 financial advisors in 2016 for the Hudson Valley office. Northwestern Mutual also plans to recruit 12 students from local colleges for their internship program.

Orange County
Related Companies,
a privately-owned real estate company in the U.S. announced plans to build nearly 1,200 homes in the Town of Tuxedo in Orange County. The real estate development, dubbed “Tuxedo Farms”, will feature residential properties, ranging from cottages and townhouses to manor and estate homes, with prices ranging from $450,000 to $1.5 million. One, two and three bedroom rentals are also planned. Tuxedo Farms will also be anchored by a 37,000 square-foot YMCA. No job numbers were announced.

Restaurant Depot, a Queens-based national wholesaler of dry foods, fresh meats, fish and commercial equipment to small restaurants, caterers, and non-profit groups, announced plans to open a new location in the Town of Newburgh. The 62,300 square-foot warehouse will be built on a 9-acre site behind the Ramada and Super 8 hotels on Route 300. The facility will employ between 40 and 50 people.

Putnam County
Nothing to report.

Rockland County
Industry Realty Group L.L.C.,
a Los Angeles-based company, recently closed on its $39.45 million acquisition of most of the developed portion of the 550-acre Pfizer Inc. campus in Pearl River. The developer plans to turn the Pearl River site into a mixed-use, multi-tenant campus that would include residences and a hotel. The deal, which has been in the works for two years, will allow Pfizer to retain 25-acres and about 500,000 square feet of office and laboratory space at the southern end of the property for research and development. Pfizer will also lease back about 1.2 million square feet from IRG for its production operations under short-term and long-term leases. No job numbers were announced.

Sullivan County
Nothing to report.

Ulster County
The developer for Belleayre Resort at Catskill Park was recently issued the necessary permit by the NYS Department of Environmental Conservation to proceed with the $365 million expansion of the facility. The Belleayre Resort will have two distinct components: the Wildacres Resort, which will feature a 250-room hotel and an 18-hole golf course, and Highmount Spa and Resort, a 120-unit hotel with spa facilities, as well as 53 fractional ownerships units.

Health Quest will open a new medical office that will provide primary care, gynecology, obstetrics and rheumatology services at Kingston Plaza. Health Quest is spending $1.8 million to renovate the space and is scheduled for a grand-opening in February, 2016. No job numbers were announced.

Westchester County
DeCicco & Sons
recently opened its sixth store in the Hudson Valley Region. The 25,000 square-foot store, in the Town of Larchmont, has a full-service craft beer and wine bar and an upstairs dining area. The family-owned gourmet grocer has several stores throughout the Westchester County area, including stores in Ardsley, Armonk, Brewster, Scarsdale, Harrison, Cross River and Jefferson Valley, and in New City in nearby Rockland County.

iFLY Holdings, L.L.C. recently opened its 13th location in the U.S. at the Ridge Hill complex in Yonkers. The company has 38 locations in the U.S., Canada, Europe and Asia. No job numbers were announced.

Valterra L.L.C. will acquire the former Frank’s Nursery property from the Town of Greenburgh for $3.5 million and build an 80 to 100-unit assisted living facility at the site. No job numbers were announced.

BUSINESS CONTRACTIONS FOR THE HUDSON VALLEY REGION

Dutchess County
Nothing to report.

Orange County
Nothing to report.

Putnam County
Nothing to report.

Rockland County
Novartis Pharmaceuticals
filed a WARN notice with the NYS Department of Labor on December 8, 2016 in anticipation of another round of layoffs. The pharmaceutical giant will lay off 60 employees during a 14-day period commencing on March 31, 2016 and ending on or about September 30, 2016. The latest round of layoffs comes on the heels of 54 employees that were laid off between December 31, 2015 and January 13, 2016

Sullivan County
Nothing to report.

Ulster County
Nothing to report.

Westchester County
Nothing to report.

STRIKES AND LABOR DISPUTES

Nothing to report.

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