2021 22nd Edition: April 19 - April 23
Orange County IDA Approves Incentives for $150M Cannabis Project at Warwick Valley Office & Tech. Park
A reconstituted Orange County Industrial Development Agency Board of Directors approved incentives on March 30th for a $150-million cannabis cultivation, extraction and manufacturing facility project at the Warwick Valley Office & Technology Corporate Park to be developed by Chicago-based Green Thumb Industries.
The approval by a 5-0 vote with one abstention came the night before Gov. Andrew Cuomo signed a bill legalizing recreational marijuana for those 21 year of age and older in New York State.

Hotels Showing Signs of Recovery from COVID
As health and safety restrictions continue to be lifted across the nation, the hotel industry, which was battered by the coronavirus pandemic, is showing signs of improvement.
Amanda Dana, director of Orange County Tourism & Film, reports that occupancy rates at Orange County hotels are increasing as the market enters the second quarter of 2021.

Election, $1.9-Trillion Stimulus Brighten Industrial Outlook for 2021
During the height of the COVID-19 crisis, the industrial real estate market was the outlier, growing in spite and in some cases because of the pandemic.
The growth of e-commerce and the need for logistics, warehouse and distribution facilities in 2020 and 2021 fueled investment, development and expansions in the industrial sector in Orange County and in key markets across the nation.

With Work at Home Policies Still in Place, 5G is ‘More Important Than Ever’
Commercial brokerage firm Cushman & Wakefield recently issued a briefing in its The Edge magazine that discussed the emergence and importance of 5G communications technology in light of work at home programs in the United States being at all-time highs.
The report noted, “Since employees have proven they can work productively from the comfort of their own homes, they are looking for a reason to return (to the office). 5G can provide the immersive experience employees are not only craving, but will come to expect going forward. And landlords and investors will come to expect 5G to be an essential amenity for tenants.”

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