2022 35th Edition: August 22 - August 26


Orange County Economic Development Summit

range County government continues to show its commitment to economic development and job creation by hosting a summit next month that focuses on our economic future!


County Executive Steve Neuhaus and Orange County Director of Economic Development, Steve Gross recently announced the 2022 Orange County Economic Summit, which will provide a forum where business leaders, developers, corporate executives, government, and civic officials can come together to learn about the state of our county’s economy, focusing specifically on the importance of strong infrastructure and why it is necessary to prepare us for the future.


Orange County's Gross asked the Orange County Partnership to serve as co-chair of the 2022 Summit Committee and together with the input of our economic development partners, Bill Fioravanti, Executive Director of the OC IDA, Amanda Dana, Director of Tourism, and Heather Bell, President of the OC Chamber we keyed in on relevant topics that directly impact our business community.  


The Summit will feature Gus Scacco of Hudson Valley Investment Advisors as the Opening Keynote Speaker. Attendees will then choose between two of the four panels they would like to attend. Expert panelists will tackle issues such as: 

  • Understanding the Importance of Economic Incentives
  • Water, Wastewater and Development
  • Energy, Utilities and Digital Infrastructure
  • Transportation and Commerce


So, mark your calendar for September 30, 2022, 8:00am-1:00pm at SUNY Orange, Middletown Campus


More details will follow. Don’t miss out! 

My very best,

Maureen Halahan

President & CEO

Nick Fitzpatrick, President

Aden Logistics

Business in Focus: Home-Grown Logistics Firm ‘Keeps on Truckin’

The current logistics market’s strength in spite of supply chain disruptions, high interest rates and rising inflation is being fueled by continued strong consumer spending, e-commerce and industrial real estate investment. Forecasters have noted that the U.S. logistics market was valued at $45 billion in 2021 and is projected to reach almost $90 billion by 2028. It is expected to grow at a Compound Annual Growth Rate of 7.9% from 2021 to 2028.


Orange County, NY’s strategic location is the prime reason why it is a premier location for warehouse/distribution development as well as logistics-oriented enterprises. Recently, Resources and Results met with the leaders of home-grown Aden Logistics Corp. of Montgomery— Nick Fitzpatrick, 41, president and Joshua Kemmerer, 41, director of operations. The company, which has a motto “‘Positive, Prompt, and Proactive” was founded five years ago and while it focused on putting its systems in place the first three years, the company has grown significantly in the past 24 months, company officials said.

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ABG Hears Updates on Site Inventory Program and Environmental Reform Impacts

In a highly informative session that covered the latest economic development and environmental protection trends, approximately 85 people attended the Alliance for Balanced Growth meeting on Aug. 16. The session held at Delancey’s in Goshen featured remarks by Orange County Executive Steve Neuhaus, and updates on the Orange County Partnership’s Site Inventory Program (SIP) and key environmental regulation changes that could impact property and commercial development projects in the coming years.


The session moderated by ABG Co-Chairs John Lavelle of Rand Commercial and Andrew Fetherston of Colliers Engineering Design, included a presentation by Conor Eckert, Senior Development Officer & Vice President of Business Attraction for the Orange County Partnership on the recently launched Site Inventory Program (SIP). Eckert is heading the initiative along with Kaitlynn Lancellotti, Director of Business Retention and Expansion.

The ABG’s Lavelle noted that there is strong demand for commercial sites in Orange County, but brokers are frustrated by the lack of available sites and the lack of infrastructure for those that are available.


Eckert said that since its launch in June, Partnership representatives have met with chief officials of Blooming Grove, Monroe, Goshen and the Town of Wallkill. Upcoming meetings are planned with the City of Middletown, Port Jervis, the City of Newburgh and other municipalities.

The Site Inventory Program seeks to take advantage of some of Orange County’s key growth industries—food & beverage processing, advanced manufacturing, clean energy and life sciences—that the Partnership believes will be investing and creating jobs in the county over the next two decades.

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Conor Eckert, Senior Development Officer & Vice President of Business Attraction for the Orange County Partnership, presenting on the recently launched Site Inventory Program (SIP).

Kimberly Semon, P.E. Senior Project Manager for the environmental group Langan Engineering & Environmental Services, provides an informative update on PFA (polyfluoroalkyl substances) contamination and changing federal and state regulations that could impact development costs.

Orange County Executive Steve Neuhaus praised Medline’s commitment to Orange County.

The Medline facility on Route 416 in Montgomery is the largest building in Orange County.

Medline Officially Opens New 1.3-Million-Square-Foot Distribution Center

A host of state, county and local officials joined Medline executives on Aug. 1 for the official opening of its 1.3 million-square-foot distribution center here.


The facility, the largest building in Orange County, according to Orange County Partnership President and CEO Maureen Halahan, cost more than $120 million to build.


The new Medline property handles the distribution of thousands of individual products and devices shipped to healthcare providers, such as hospitals, nursing homes, ambulatory surgery centers, hospices and physicians’ offices. The Montgomery facility is expected to handle more than $1 billion in annual orders. Medline is also in the process of completing a 7.4 megawatt (MW) solar panel installation at its Montgomery property.

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Community Solar = Lower Electric Bills and Renewable Energy

Does your home or qualifying business participate in community solar? 

When we ask electric consumers this question, we receive a myriad of responses. 

  • My roof is too small. 
  • My roof is facing the wrong direction. 
  • My property is shaded by trees 
  • I cannot afford the installation cost. 
  • I do not have the land for solar. 
  • I rent or lease my home or building. 

Our answer to all these comments is “You are the perfect candidate for community solar." 

Confused? Of course, you are, everything you have ever learned about solar includes one or all the above qualifiers. The minute one hears the word “solar” that is all you hear even when paired with any word including “community solar." 

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Melissa A. Cobuzzi, President & CEO

M&R Energy Resources Corporation

When Politics and Real Estate Collide

While corporate real estate executives frequently interact with elected officials in order to secure municipal approvals or incentives for new building projects, sometimes controversial legislation can lead to acrimony on both sides and later possible workforce and operational decisions.


Recently, reproductive rights laws and New York City’s controversial congestion pricing plan have caused a firestorm of controversy. In the case of newly enacted abortion restrictions in Indiana, two major employers, pharmaceutical firm Eli Lilly and Company and engine manufacturing firm Cummins, both criticized the new law.

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Key Factors That Companies Looking for New STEM Sector Locations Should Consider

The growth of the STEM (Science, Technology, Engineering, Math) sector has been impressive both in the U.S., New York State and in the greater Hudson Valley.


Labor analysts predict that the growth trend will continue. According to the U.S. Bureau of Labor Statistics, STEM occupations are expected to increase by 10.5% from 2020-2030. Non-STEM occupations are projected to grow by a 7.5% rate during that same 10-year period.


The median annual wage for STEM jobs in 2021 was $95,420, while non-STEM occupations posted a median salary of less than half at $40,120.

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Orange County Bancorp, Inc. Rings Nasdaq Opening Bell to Celebrate One-Year Anniversary of Initial Listing

Orange County Bancorp, Inc. (the "Company") (NASDAQ:OBT), parent company of Orange Bank & Trust Co. (the "Bank") and Hudson Valley Investment Advisors, Inc. ("HVIA"), rang the Nasdaq opening bell Wednesday, August 17th in celebration of the first anniversary of its Nasdaq Capital Market listing. Companies listed on the Nasdaq Capital Market must meet strict financial, liquidity and corporate governance requirements, both initially and on an ongoing basis.

"It's an honor to celebrate our one-year anniversary on the Nasdaq-CM and recognize significant milestones the Company has achieved since, several of which were facilitated by our Nasdaq up listing," said Michael Gilfeather, Company President and CEO. "As of Friday market close, since our August 5, 2021 IPO, the Company's market capitalization has increased approximately 13% and now stands at approximately $213 Million. We are proud of this growth and the fact our stock has outperformed both the KRX Banking Index as well as the S&P 500 during this same period."

In celebration of its one-year listing anniversary, management and members of the Company's Board of Directors were invited to ring the opening bell at the Nasdaq MarketSite, where they were presented with a plaque and enjoyed a tour of the facility.

About Orange County Bancorp, Inc.

Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 130 years ago. It has grown through ongoing innovation and an unwavering commitment to its community and business clientele to more than $2.0 billion in total assets. Hudson Valley Investment Advisors, Inc. is a Registered Investment Advisor in Goshen, NY. It was founded in 1996 and was acquired by the Company in 2012.

Cautionary Note Regarding Forward-Looking Statements

This press release includes "forward-looking statements," including with respect to the initial public offering. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "should," "could," "predict," "potential," "believe," "expect," "attribute," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "goal," "target," "outlook," "aim," "would," "annualized" and "outlook," or similar terminology. These forward-looking statements are based on current beliefs and expectations of the Company's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: risks related to the real estate and economic environment, particularly in the market areas in which the Company operates; fiscal and monetary policies of the U.S. Government; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of the allowance for loan losses; decreases in deposit levels necessitating increased borrowing to fund loans and investments; the effects of the COVID-19 pandemic; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company may not be successful in the implementation of its business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks detailed in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and other sections of the Registration Statement filed with the SEC. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as may be required by law.

Forbes names Medline to 2022 list of ‘Best Employers for Women’

Medline has been named to Forbes 2022 list of “America’s Best Employers for Women,” ranking 28th out of 400 companies recognized for “leading the way when it comes to trying to support women inside and outside their workforces.

“The Covid-19 pandemic has disproportionately affected women around the nation,” according to Forbes. “Many women have left the workforce due to childcare demands, stress, low pay and a lack of opportunities. In many cases, Covid has amplified the burden felt by women.”

Forbes compiled the list based on independent survey results of 50,000 employed U.S. adults, including 30,000 women, at companies with at least 1,000 employees. The survey and evaluations were conducted by Statista, Inc. based on general work topics, including willingness to recommend; “topics relevant for women,” including parental leave, discrimination, representation of women, and career and pay equity; peer review of other employers; and diversity among top executives.

“We’re honored to be represented on this influential list,” said Karen Ferraro, Medline chief human resources officer. “We recognize and appreciate the tremendous contributions of our teams during the pandemic, and have worked hard to meet the evolving and complex needs of our employees. Medline is a fast-growing, customer-focused company, and we’re committed to creating an inclusive environment where everyone thrives.”

Medline is a healthcare manufacturer, distributor and solutions partner, and the choice of 70% percent of U.S. News & World Report Honor Roll Hospitals.

The company is routinely named to best employer lists. Most recently, Medline was included on the Forbes America’s Best Large Employers for 2022 and Forbes Best Employers for New Grads 2022 lists. Medline also was named to LinkedIn’s 2021 Top Chicago Companies list and the Chicago Tribune’s 2021 Top Workplaces.

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