46th Edition: February 26th - March 1st 2024

Catalyzing Growth: Unveiling the Potential of Port Jervis' Dick's Concrete Site for Advanced Manufacturing

Our commitment to growing the manufacturing sector in Orange is stronger than ever before. Supply chain disruptions, onshoring, and access to infrastructure are recurring themes in the site selection world. The economic development organizations that understand the strengths and weaknesses of their markets will have an opportunity to compete for next-generation economic development opportunities. Last year, we launched the Site Inventory Program, aimed at preparing Orange County to attract manufacturing projects. We traveled to communities across Orange County to objectively analyze sites, infrastructure, entitlement processes, and a laundry list of site selection variables. Our goal was clear – identify sites, both on the market and off, that have the fundamentals to support advanced manufacturing projects in Orange County.

During that systematic review, we uncovered the Dick’s Concrete site in Port Jervis – an 80-acre quarry with heavy infrastructure in a city that’s in the midst of revitalization, having previously won the $10 million DRI. Port Jervis, once an industrial powerhouse on the banks of the Delaware River, now has the potential to accommodate advanced manufacturing, with this site as the catalyst. The Orange County Partnership recently formed a strategic alliance with the new City of Port Jervis Mayor, Dominic Cicalese, and the Director of Community Development, Valerie Maginsky, to collaborate on an innovative advertisement featured in Site Selection Magazine. This partnership aims to highlight the immense potential of the Dick's Concrete site. Located at the confluence of NY, PA, and NJ, the site offers heavy infrastructure, proximity to I-84, and access to labor – in a city that supports and encourages job creation, tax generation, and community growth.

Over the next year, the Port Jervis quarry site will play a key role in our economic development efforts. It’s a unique site, with a powerful story that can catalyze continued community growth and momentum in our great City of Port Jervis.

The advertisement in Site Selection Magazine strategically coincides with our attendance at the Site Selectors Guild Annual Conference in early April in Nashville, TN, which presented a prime opportunity for myself and Conor Eckert, VP of Business Attraction, to showcase the Dick's Concrete site alongside other targeted locations for advanced manufacturing, including Riverside Corporate Park and 599 East Main Street in the Town of Wallkill, to a national audience of site selectors.

In this endeavor, we are committed to unlocking the full potential of Orange County, NY propelling it forward as a premier destination for advanced manufacturing and economic prosperity.

My very best,

Maureen Halahan

President & CEO

Village of Montgomery officials receiving the $4.5-million NY Forward check from NYS Governor Kathy Hochul.

Photo Credit: Governor Kathy Hochul's office

Village of Highland Falls receiving the $4.5-million NY Forward check from NYS Governor Kathy Hochul.

Photo Credit: Governor Kathy Hochul's office

Village of Highland Falls & Village of Montgomery Secure $4.5 Million Each From NY State to Revitalize Their Downtown Districts

Orange County scored big time in this year’s NY Forward program funding awards. New York Gov. Kathy Hochul announced earlier this month that two Orange County communities—the villages of Highland Falls and Montgomery—were awarded $4.5 million each from the $100-million NY Forward program.

Under the NY Forward program, Highland Falls and Montgomery will now begin the process of developing a Strategic Investment Plan to revitalize their downtowns. A Local Planning Committee made up of municipal representatives, community leaders and other stakeholders will lead the eﬀort, supported by a team of private sector experts and state planners. The Strategic Investment Plan will examine local assets and opportunities to identify projects that align with each community's vision and that are poised for implementation. Funding will be awarded for selected projects from the Strategic Investment Plan that have the greatest potential to jumpstart revitalization and generate new opportunities for long-term growth, state officials said.

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Orange County's Rise as a Manufacturing Hub: Join us at our upcoming Quarterly Project Meeting - 3/25

As we get settled into the new year, one thing has been made abundantly clear – the manufacturing sector is actively looking toward Orange County for corporate expansion and relocation. Our upcoming Quarterly Project Meeting (QPM), which will be held on Monday, March 25th at 8:00 AM at the LEGOLAND Hotel in Goshen will feature a handful of updates outlining the $1-billion worth of industrial leads in our pipeline, construction activity, and site selection trends that impact the business community in Orange County.

This QPM will have a particular focus on semiconductors, clean energy technology, and advanced manufacturing. We will also preview our 2024 initiatives – including our efforts to develop a green-tech corridor, with a focus on the offshore wind supply chain.

We look forward to seeing our valued investors and partners at this event!

Photo Credit: LEGOLAND New York

Source: Colliers

Industrial Market Predicted to ‘Recalibrate’ in 2024; Rents, Build-to-Suit Projects Expected to Rise

A recently released report by national commercial real estate brokerage firm Colliers predicts that the industrial market will begin to return to proper balance this year with construction activity down, but asking rents and build-to-suit development projects higher.

“Following two years of white-hot demand for industrial space, supply and demand fell out of balance during 2023. Developers completed a record 607 million square feet of new supply, nearly triple the year’s net absorption total of 231 million square feet. That absorption total is 54% lower than absorption in 2022, although it’s in line with pre-pandemic levels of demand,” the report stated.

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Report: ‘The Volume of Proposed Manufacturing Projects has the Potential to Reshape the U.S. Manufacturing Base’

A recently released report by the NAIOP Research Foundation and commercial brokerage firm Newmark on the surge of manufacturing jobs reshoring indicates that a host of factors are contributing to what they term as a “watershed moment” for the industrial sector.

The report titled “Forging the Future: Manufacturing Growth and Its Effects on North American Industrial Markets" was written by Newmark's Lisa DeNight, Managing Director, National Industrial Research and Liz Berthelette, CRE, Head of Northeast Research & National Life Science Research for Newmark.

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Photo Credit: NYS Governor Kathy Hochul's office

State Earmarks $60 Million to Help Localities Redevelop Blighted Properties

The Orange County Partnership is pleased to report that municipalities throughout Orange County can now apply for grants to help them transform blighted, underutilized properties into residential, commercial and/or mixed-use developments.

The state opened applications on Feb. 22 for the next $60 million in the latest round of the Restore New York grant program, which is administered by Empire State Development. As part of the FY 2025 Executive Budget, Gov. Kathy Hochul has proposed an additional $50-million investment to fund future rounds of Restore NY.

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THANK YOU TO OUR MEDIA SPONSOR:

FEATURED PROPERTIES OF THE MONTH:

Looking to relocate or expand your company? Reach out to our Vice President of Business Attraction, Conor Eckert today! 845.294.2323 or conor@ocpartnership.org

270,564 SF 5-STAR INDUSTRIAL SPACE AVAILABLE

599 EAST MAIN STREET ENTERPRISE DRIVE | MIDDLETOWN, NY

599 E Main Street offers build-to-suit space and heavy infrastructure to accommodate warehousing, distribution, and manufacturing operations.

Benefit from exposure to 60,000+ daily passing vehicles with strategic positioning at the junction of Interstate 84 and Route 17 (the future I-86).

Ideally placed 65 miles northwest of New York City and located within minutes of I-87 connectivity via the Gold Triangle distribution corridor.

Located in the Middle Hudson Valley region, strategically access major surrounding markets in a proven industrial ecosystem in the Northeast.

Collaborate with local colleges, such as SUNY Orange, on developing a workforce and talent pipeline, that’s customized to tenant operations.

Join a robust regional ecosystem, including President Container Group, Tesla, Regeneron, Pfizer, IBM, Amazon, Royal Wine/Kedem, and others.

Welcoming our New Investors to

"The Orange County Partnership Circle of Success Investor Program"

February 2024

2024 RENEWED INVESTORS:

"Back in the Circle Where Renewed Investors Thrive"

STAY CONNECTED!