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Hudson Valley Region, October 2015

FIRM EXPANSIONS AND CONTRACTIONS

Hudson Valley Region

October 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
SouFun Holdings, Inc.,
a Chinese real estate company, recently purchased the New York Military Academy in Cornwall at an auction in US Bankruptcy Court in Poughkeepsie. The company paid $15.825 million for the 126-year-old facility, which it intends to keep open as a college preparatory school. The company will likely retain the current staff.

Vassar Brothers Medical Center in Poughkeepsie has been granted a “certificate of need” by the New York State Department of Health to build its new patient pavilion. Vassar Brothers, the flagship hospital of Health Quest, will build a seven-level, 696,000 square foot building that will feature 264 private medical/surgical patient rooms and 30 critical care rooms. The new facility will also feature an emergency department/trauma center with 66 treatment rooms, parking for ambulances and the public, new operating rooms, a cafeteria and a conference center. Ground breaking for the $466 million project is schedule for July, 2016 with a grand opening by January, 2019. Financing for the multi-million dollar project will come by way of hospital funds and hospital bonds. The project is expected to create between 300 to 400 construction jobs. Once operational, the medical center is likely to offer job opportunities in various healthcare specialties.

Orange County
Clemson Bros. Brewery
will open Middletown’s first brewery since the prohibition era. The new operation contains a seven-barrel system and anticipates producing 1,000 barrels in its first year. The company created 20 jobs and anticipates creating about 100 more jobs if their plans to start bottling at the site come to fruition.

PharmaCannis, Orange County’s medical marijuana research and development facility in Hamptonburgh, is under way after receiving state approval. The $18 million, 125,000 square-foot facility will be used for research and development, as well as manufacturing. The company will dispense in Albany, Bronx, Erie and Onondaga counties. PharmaCannis operates another facility in Illinois. No job numbers were available.

The On Force Solar company will transformed the former Monroe town landfill into a large solar farm. The project will also feature a solar education center for students. No job numbers were announced.

Tuxedo Farms, a residential and commercial development project, is underway in the Town of Tuxedo. The project will bring nearly 1,200 homes to the market, with prices ranging from $450,000 to $1.5 million. The project will also include a 37,000 square-foot YMCA, a grocery store, a Village Green, parks and playgrounds. No job numbers were announced.

Putnam County
Nothing to report.

Rockland County
Crystal Run Healthcare
recently celebrated the groundbreaking for its new 70,000 square-foot medical center in West Nyack. The facility will be the company’s first location in Rockland County and it will include multiple specialties, an urgent care clinic, an infusion center and diagnostic testing services including a clinical laboratory and diagnostic imaging. Crystal Run operates more than 30 medical facilities in the Hudson Valley and lower Catskill region. The medical care provider is also scheduled to open another 70,000 square-foot facility in the Town of Monroe (Orange County). The company plans to hire 250 employees at the new facility in Rockland County.

Time Nyack, a 133-room, four-story hotel is scheduled to open in December, 2015. The “lifestyle” hotel with a stylish, loft-like setting and amenities has begun to book rooms. Average rates run from $189 to $229 per night. No job numbers were announced.

Sullivan County
Thompson Cinemas
will reopen for business in early spring, according developer James Kula. The $8 million, four screens theater has been going extensive rehabilitation including a new roof and expanding the building from 11,500 square feet to 16,480 square feet and adding two more screens. No job numbers were announced.

Ulster County
Bread Alone
recently opened its newest and largest store in Lake Katrine. The new 26,000 square-foot bakery and café created about 60 jobs.

Westchester County
RXR Real Estate Development Corporation,
in a joint venture with Rising Development, announced plans to build a 442-unit high rise apartment building in downtown Yonkers. In addition to the apartments, the plan calls for 40,000 square foot of ground floor retail and restaurant space. The Yonkers Industrial Development Agency has approved an incentive plan for the project. The site was designated a priority project by the state’s Mid-Hudson Regional Economic Development Council and was awarded $1 million in assistance from Empire State Development. RXR Real Estate Development will be the lead partner in the project in Larkin Plaza, which overlooks Van Der Donck Park and is within walking distance of the Yonkers train station. The multi-million dollar project is expected to create an estimated 250 permanent jobs when completed.

BUSINESS CONTRACTIONS FOR THE HUDSON VALLEY REGION

Dutchess County
GlobalFoundries,
the computer-chip maker, has laid off about 150 workers total in New York. The job cuts will include 75 workers at the East Fishkill plant in Dutchess County and another 75 workers at its plant in Malta in Saratoga County. The Abu Dhabi-owned company, which acquired the East Fishkill and Vermont plants from IBM, announced in October, 2015 that it planned to cut a small number of jobs in the U.S., including New York. These involuntary cuts, although limited, comes on the heels of the voluntary buyouts that the company had offered in the hopes of reducing the number of legacy IBM employees. GlobalFoundries employs an estimated 3,500 employees at its plant in Malta and about 2,000 employees at the East Fishkill facility.

Orange County
Continental Organics,
the aquaponic fish and greens farm, has filed for bankruptcy and plans to liquidate its assets. The company listed assets of $2.3 million against liabilities of $9.7 million in documents filed recently with the U.S. Bankruptcy Court in Poughkeepsie. No job numbers were announced.

Putnam County
Nothing to report.

Rockland County
A $325 million proposed project that would have converted the former Letchworth village property in Thiells into a Legoland amusement park initially, followed by a water park and hotel, was turned down by the Town of Haverstraw’s town board. The multi-million project was expected to create about 600 construction jobs and 1,000 new jobs, once operational. The project was on the top list of projects supported by the Mid-Hudson Regional Economic Development Council and was scheduled to receive $3.1 million in funding. Merlin Entertainments, the owner/operator of the Legoland theme parks, expressed disappointment in the town’s decision but stated that it was still interested in building a third Legoland in North America.

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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