HVEDC Helps Create 1,100 New Jobs,
Lease 1 Million SF of Space in 2009

(NEW WINDSOR, NY, January 5, 2010) – The Hudson Valley Economic Development Corporation (HVEDC), which promotes the Hudson Valley as one of the world’s premiere locations for business, helped create 1,107 direct new jobs in 2009 through the attraction, expansion and retention of companies, it was announced here today. The regional organization also played a role in the lease of 1 million square feet of once-empty office and industrial space.

“Despite the global recession, HVEDC was able to hit all of its goals for 2009 by working in close partnership with the seven counties we represent, as well as the State of New York,” said Mike Oates, President and CEO of HVEDC. “Our life science and solar sectors were especially strong – a testament to the vibrant clusters we have established here thanks to a skilled workforce and competitive business climate.”

Among the projects that helped create or save hundreds of jobs in the Hudson Valley were SpectraWatt, Inc., OSI Pharmaceuticals and Regeneron Pharmaceuticals:

• SpectraWatt, a manufacturer and supplier of advanced silicon photovoltaic cells to the solar industry, announced plans in early April to establish the company’s first factory and its new headquarters at the Hudson Valley Research Park in East Fishkill. A spin-off of Intel Corporation, the company expects to create more than 100 jobs within the first year of operation.
• OSI Pharmaceuticals, Inc., announced in July that was acquiring the 43-acre Ardsley Park Science and Technology Center for $27 million and would consolidate its U.S. operations at the Hudson Valley site. OSI plans to invest over $95 million in the campus and relocate approximately 350 current U.S. employees from its facilities in Melville and Farmingdale, NY; Boulder, CO; and Cedar Knolls, NJ, to the new site.
• Regeneron Pharmaceuticals, Inc., New York’s largest biotechnology company, announced in December that it will invest close to $40 million in an expansion that will create 300 new jobs at The Landmark at Eastview campus in Tarrytown. Regeneron already occupies approximately 390,000 square feet at the site, which houses its new corporate headquarters and research facilities staffed by more than 700 employees.
  

HVEDC also played a pivotal role in jump-starting the development of a large, shovel-ready greenfield site by funding a comprehensive analysis of nine sites in the Hudson Valley. When the 773-acre Winston Farm in Saugerties emerged as the top candidate to develop as a high-tech business park, HVEDC then collaborated with the owners of Winston Farm, the Town of Saugerties and Ulster County Development Corporation to develop a detailed feasibility study and master plan for development of the site. The preliminary development plan for Winston Farm, which was presented at a public meeting in November, envisions more than 2 million square feet at full build out.

HVEDC represents seven counties in the Hudson Valley: Westchester, Rockland, Orange, Dutchess, Sullivan, Ulster and Putnam Counties. The public-private partnership markets the region as a prime business location to corporate executives, site selection consultants and real estate brokers around the globe. In addition, HVEDC’s mission includes aggressive advocacy in Albany to secure state support for economic development projects in the Hudson Valley.