Waterfront Development and Investment Opportunity

Opportunity for Sustainable Transit Oriented Waterfront Redevelopment

MTA Transit Oriented Development RFEI

A redevelopment initiative conducted by the MTA in collaboration with the City of Poughkeepsie is underway and has issued a Request For Expression of Interest (RFEI) for Transit-Oriented Development (TOD).  The RFEI sets the stage for mixed-use redevelopment of underutilized land adjacent to the historic rail terminal.  These sites have spectacular views of the Hudson River and enjoy direct access to waterfront amenities and a thriving downtown.

As one of the largest cities in the Hudson Valley, Poughkeepsie has that vibe – the one you can only feel in a community that’s on the verge of a new era and filled with “Poughtential.” It’s the same feeling that neighboring Beacon, N.Y. had once DIA:Beacon was established, which fueled a dynamic rebirth of a historic river city once longing for visitors, residents and investment. With nearly $1 billion in major projects and more than $2 billion in developments in the planning or permit phase in Dutchess County, Poughkeepsie is in the center of that surge, bolstered by a 14-block, more than $500 million investment by Vassar Brothers Medical Center. In addition to large projects like Vassar, small businesses and entrepreneurs are also choosing to relocate in Poughkeepsie, with many leaving New York City’s outer boroughs for lower cost yet effortlessly cool warehouse buildings that once housed the city’s brewing, whaling and manufacturing industries.

A TOD provides an opportunity for enhanced economic development of the region and appeals to a broad market of potential users.  According to the RFEI, opportunities may include a mix of residential, retail, office/commercial, hotel, and expanded commuter parking elements.

Those interested in responding can download the RFEI here to learn more about submission guidelines and deadlines.

For additional information on available sites, buildings, and opportunities available in Dutchess County, contact Think Dutchess Director of Business Attraction, Don Minichino at 845.463.5404.

 

EFCO: Four Generations of Success

Poughkeepsie Roots, Global Business

 

Company Name: EFCO Products 

Industry: Food Manufacturing/ Production

Year established: 1903

 

 

Family owned EFCO Products is a rarity in today’s industry, let alone the global business culture.  Headquartered in Poughkeepsie, New York, EFCO adheres to a long-standing tradition of service excellence and product quality that is rooted in its heritage since 1903. Manufacturing ingredients for over 100 years, EFCO serves the ever-changing and evolving needs of local and wholesale bakeries, global industrial food processors and chain restaurants.

Commenting on more than a century of doing business in the Hudson Valley, president, and CEO, Steve Effron said, “Our business is constantly changing and we’ve had to continue to evolve with it.”  The Poughkeepsie native also pointed to a long list of advantages doing business in Dutchess County: “We have a long-tenured workforce that is very skilled and adept at what they do.  Our workforce is fueled by a strong educational system, particularly Marist College, the Culinary Institute of America, and Dutchess Community College,” he said, “We also benefit from our proximity to a large population base in the eastern corridor and great access to New York ports.

“The strength of our business is innovation, and we like our customers and prospective customers to see how our products are developed and made.” Effron continued, ” Fortunately, both our domestic and international customers love coming to the Hudson Valley.  Whether they are from New York City, the Middle East, Asia, or Latin America, our customers appreciate the rich history of the area and of our company.”

 

For four generations, this global business has not only made life sweeter for consumers but also continues to contribute to the community in many ways.  To learn more about Steve Effron and the EFCO legacy here in Dutchess, read more in our inaugural issue of the Think Dutchess magazine.

Dutchess County Outpaces Region, State and Nation for Private Sector Job Growth

Dutchess County’s private sector job growth increased 2.7% in November and 3% in December of last year.

Dutchess County Outpaces Region, State and Nation for Private Sector Job Growth

According to the New York State Department of Labor, the Dutchess-Putnam MSA’s private sector job growth rate rose to 3% in December 2017, ranking above the growth rates of the Hudson Valley Region (1.4%), New York State (1.4%) and the United States (1.7%), respectively.

Dutchess County also outperformed the month prior, when the November 2017 Dutchess-Putnam MSA private sector job growth rate totaled 2.7%, a number well above the growth rates of the Hudson Valley Region (1.6%), New York State (1.4%) and United States (1.7%) overall.

In 2017, Dutchess County also tied with Putnam County for the lowest unemployment rate of all seven counties in the Hudson Valley, with both counties coming in at 4.3% unemployment in November and 4.1% unemployment in December, respectively.

A longtime home to global corporations like IBM and Gap, as well as emerging hub for startups and small businesses, Dutchess County is well-positioned for further growth in the 2018.

Think Dutchess Alliance for Business has already supported several current investments in the county, including National Resources’ redevelopment of a former IBM campus into the $300 million iPark City, East Fishkill’s new $25 million Sports Kingdome and the $510 million expansion of Vassar Brother Medical Center―the largest construction project in Poughkeepsie to date.

Source: New York State Department of Labor

COMPANY PROFILE: IBM

Why one of America’s top tech companies has called Dutchess County home for nearly 75 years

A corporate name synonymous with innovation and reinvention, IBM has a historic legacy in Dutchess County, N.Y. Over the last several decades, IBM operations in the county have generated large numbers of jobs and produced some of “Big Blue’s” most iconic technologies, including all of IBM’s mainframes and IBM Deep Blue, which famously became the first computer to beat a world chess master.

IBM Aerial in Poughkeepsie
Aerial view of IBM’s Dutchess County operations

IBM’s presence in Dutchess County began in 1941 when the company purchased a second campus in Poughkeepsie, N.Y. In 1962, after IBM grew to more than 100,000 employees nationwide, the company expanded to more than 400 acres in East Fishkill, N.Y. Here, IBM introduced its first mainframe computer, the System/360, a server that revolutionized business due to its use of semiconductor technology and established IBM as a leader in the computing industry.

IBM Z Marc Molinaro Dutchess County
Dutchess County Executive Marcus Molinaro and Maria Boonie, IBM Vice President, z Systems Software Development

Today, Dutchess County continues to serve as one of IBM’s top U.S. manufacturing locations, churning out mainframe technology for the 21st century, known as z Systems. In 2017, the Fortune 500 company unveiled its latest edition, IBM z14, which is capable of computing 12 billion cybersecure exchanges daily and supports 87 percent of credit card transactions around the globe, totaling almost $8 trillion payments annually.

Currently, IBM’s Dutchess County workforce is made up of more than 50 percent engineers, with many coming from nearby schools like Marist College. The company’s Dutchess County employees have also secured more than 6,000 patents over the course of IBM’s history.    While its focus has long been on providing the best technology, IBM has also made strides in design. In 2017, IBM Poughkeepsie was awarded the title of IBM’s 37th official “Design Studio,” making it part of a global network of offices that champion IBM Design Thinking.

IBM softwear engineer in Poughkeepsie
IBM softwear engineer in Poughkeepsie

Like all things, as the times have changed, so has IBM. Although the company downsized in the 1990’s from its massive 1960-era operations, previously-owned IBM property still plays a major role in Dutchess County. Today, much of IBM’s original East Fishkill campus is owned by GLOBALFOUNDRIES, a California-based semiconductor manufacturing company, which employs 2,500 people on 160 acres of active manufacturing space.

In 2017, thanks to the help of Think Dutchess, Connecticut real estate group National Resources announced further plans to redevelop 300 acres of the campus into a mixed-use office, retail, hotel and residential development, known as iPark City. Also located at the former campus, Dutchess County’s new $25 million Sports Kingdome will soon be the world’s largest air-supported sports dome, estimated to attract 500,000 visitors annually.

 

To learn more about IBM’s longstanding presence in Dutchess County, download the inaugural issue of Think Dutchess Magazine.

 

For more information on expanding or relocating your business to Dutchess County, please contact Don Minichino, Director of Business Attraction, at 845.463.5404 or don@thinkdutchess.com.

 

TEN PARTNERS | ONE STRATEGY

A premier business-led organization, Think Dutchess Alliance for Business brings together 10 agencies under one unified vision for one-stop shop site selection, financing, incentives, permitting and advocacy, strategic planning and counseling, marketing and networking.