2022 37th Edition: October 17th - October 21st

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Investment is Coming in Many Forms



When we launched our Resources & Results e-newsletter during the height of the pandemic, the Orange County Partnership’s goal was to bring new perspectives and economic development news that offer real value to its members and investors.

 

Since then, my column has focused on many issues from financial, political, social and even health concerns. In today’s installment, however, it will serve as being the gatekeeper—highlighting the significant information and insight featured in this edition’s articles.

 

First, I would like to congratulate Orange County Economic Development Director Steve Gross and Orange County Executive Steve Neuhaus on a highly informative and successful Orange County Economic Summit event. I was honored to be included in the program that covered a great deal of information and topics. This will be an annual summit and feedback is always welcomed for topics and ideas you want us to cover. I was also heartened to hear County Executive Neuhaus’ strong support for the Orange County IDA staff and Board of Directors for their reform efforts.

 

If there is a common theme with the other stories in this newsletter, I think it is that we can look forward to a massive amount of investment coming to Orange County and the Hudson Valley in the coming years. While economists and analysts at various events covered by Resources & Results are expecting an economic downturn and a possible recession in 2023, they all believe the downturn will be short-lived and likely not too severe.

 

Balance that troubling news with the fact that Gov. Kathy Hochul has announced that the environmental review process on the construction of a third lane on Route 17 in Orange and Sullivan counties has begun. While construction will not take place for three years, the second phase of the planned improvements on the westbound section of Exit 122 will begin a year earlier. The good news here is that Gov. Hochul has doubled down and committed up to $1 billion for the Route 17 expansion project.

 

The newsletter also chronicles the $100 billion in investment planned by Micron in upstate New York and $20 billion to be spent by IBM in the Hudson Valley due in large part to the $100-billion CHIPS and Science Act. Many believe that more companies and investment will be forthcoming and the Orange County Partnership’s Site Inventory Program will be critical in finding suitable sites for these massive projects.

 

Sometimes raw numbers do not tell the story. The new Tappan Zee Bridge cost approximately $4 billion and was a massive project that employed thousands of construction workers and provided significant economic benefits to the region. Qualcomm and GlobalFoundries investment of $4.2 billion to manufacture chips in an expansion of GlobalFoundries’ upstate New York facility (also announced recently) is basically the same investment as the bridge. IBM’s $20 billion investment statewide will be like five Tappan Zee Bridges. The Micron investment in a suburb of Syracuse will be 25 TZ Bridge jobs. Can you imagine what a game-changer that will be for that area of the state?

 

Let’s roll up our sleeves and get to work to make sure Orange County can tap into this massive injection of investment in the Empire State.




My very best,


Maureen Halahan

President & CEO

Steve Gross, Director of Economic Development for the County of Orange

Left: Maureen Halahan, President & CEO of the Orange County Partnership moderating the OC Economic Summit

Dr. Kristine Young, President of SUNY Orange

Orange County Hosts Highly Successful First Economic Summit

The first Orange County Economic Summit brought together key stakeholders, politicians, policy makers, economic development officials and business leaders who discussed a wide range of topics that are all critical to the county’s future growth.

 

The theme of the 2022 Orange County Economic Summit held on Sept. 30 at SUNY Orange in Middletown was “Positive Growth and Infrastructure: Progress Today and Planning Tomorrow.” The summit was the brain child and was organized by Orange County Director of Economic Development Steven M. Gross.

 

The four economic development panels included: Water, Wastewater and Commercial Development; Understanding Economic Incentives; Utilities, Energy and Digital Infrastructure and Transportation Equals Business and Commerce. All four were highly informative and offered attendees the latest information and perspective on these key issues.


SUNY Orange President Dr. Kristine Young hosted the event and discussed her role as co-chair of the Mid-Hudson Regional Economic Development Council and also touted the college’s recent designation as an education partner for Amazon’s Career Choice Program, which offers the online consumer giant’s hourly employee’s access to SUNY Orange’s full array of degree and certification programs.

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Governor Commits to Route 17 Project but Confirms Environmental Review Will Take Until 2025 to Finish

New York Gov. Kathy Hochul confirmed on Oct. 5 previous published reports that the study of the $1-billion Route 17 expansion will take another three years to complete and that construction on the expansion project could not begin at least until then.

 

The governor’s announcement gives a clear timeline to the next steps for the Route 17 project and when construction might begin. The state did report that the next phase of the Exit 122 project on the westbound section of Route 17 in the Town of Wallkill will be ready to get under construction in early 2024.


In an announcement marking what the governor called a “Major Milestone on Transformative Conversion of State Route 17 into Interstate 86,” Gov. Hochul stated earlier this month that the environmental review process on the project has begun. Much later in the announcement, she did state that the New York State Department of Transportation expects to publish a final Environmental Impact Statement for the project in 2025.

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The addition of a third lane on Route 17 in Orange and Sullivan counties could exceed $1 billion.

Micron, IBM to Invest $100 Billion in New York

Orange County Looks to Tap into CHIPS and Science Act’s Benefits

The Orange County Partnership, in announcing its innovative Site Inventory Program (SIP) earlier this year, said the initiative was geared to ensure the county’s economic future. Based on the recent news that Micron will be investing $100 billion in New York State and IBM will be pumping in another $20 billion into the state, due in large part to the recently enacted CHIPS and Science Act, the SIP project’s timeline has been moved up and the future is now.

 

“Projects such as Micron highlight the importance of getting sites shovel ready. Shovel ready sites are no longer a luxury, they’re a necessity,” said Conor Eckert, Senior Development Officer and Vice President of Business Attraction for the Orange County Partnership. “In order to compete for mega-projects in Orange County, we need site readiness, predictability, and speed. As we work to attract the advanced manufacturing and life science sectors, developing new shovel ready sites will be at the center of our economic development efforts at the Orange County Partnership.”

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Major Warehouse Project in Wawayanda Clears Significant Hurdle

The Orange County Partnership is pleased to report that a major industrial project proposal in the Slate Hill section of the Town of Wawayanda can now move forward in the approval process.

 

The Town Board of Wawayanda recently granted a negative declaration for Scannell’s warehouse development project. The declaration means the planning board has determined that the project will not have any significant impacts on the environment.

 

The project is to be built on the former Shapiro Farm off of Route 6 in Slate Hill. The plan calls for up to 932,000 square feet of industrial space to be developed on a parcel of approximately 100 acres, similar in scope to the Medline and Amazon projects recently completed in Orange County.

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Rendering of Slate Hill Logistics Center -

932,000 SF warehouse in the Town of Wawayanda

Advanced Manufacturer Receives Approval from City of Middletown Planning Board

The Orange County Partnership is pleased to announce that Poly Craft Industries, an advanced manufacturer, and printer of laminated and non-laminated plastic products has recently received final approval from the City of Middletown Planning Board. The project will be located on Industrial Place, a key industrial corridor in the City of Middletown. Poly Craft manufactures plastic products for nationally recognized brands, such as Jelly Belly, Serta Mattress, and Whole Foods.

 

This new project comes at an opportune time, as the Partnership begins to shift their focus toward attracting what they call “strategic sectors,” including the advanced manufacturing sector. The $30 million project will create approximately 100 new jobs with an average salary of $65,000.

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Orange County Partnership Investor Breakfast Event Honors Erin Boyce; Orlando Offers Frank Economic Outlook

More than 350 business, civic and political leaders gathered at the Villa Venezia in the Town of Wallkill on Oct. 4 for the Orange County Partnership’s annual Investor Breakfast event.

 

The program was highlighted by the Orange County Partnership bestowing its first ever Woman of Achievement in Economic Development Award to Erin Boyce, the owner and president of Boyce Excavating of Slate Hill. Erin took over the helm of Boyce Excavating under tragic circumstances back in November 2019 following the untimely death of her husband Garry at the age of 45, who at the time was the owner and operator of the family business. Since then, she has successfully balanced her role as parent to her two children with helping lead Boyce Excavating and its 85 employees to new heights as the company continues to grow and secure work on just about every major job site in Orange County.

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From left to right: Michael Gilfeather, Chairman of the OC Partnership Board of Directors; Erin Boyce, President of Boyce Excavating; Steve Neuhaus, Orange County Executive; and Maureen Halahan, President & CEO of the OC Partnership

Keynote Speaker: Philip Orlando,Senior Vice President & Chief Equity Market Strategist of Federated Hermes

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