Westchester County Business News, January 19, 2016

GE Spurns Westchester for Boston

In a blow to the hopes of many Westchesterites, GE recently announced it has selected Boston as the location for its new corporate headquarters. “We want to be at the center of an ecosystem that shares our aspirations,” said GE Chairman and CEO Jeff Immelt. “Greater Boston is home to 55 colleges and universities, Massachusetts spends more on research and development than any other region in the world.” The search for GE’s new corporate headquarters (it is leaving its longtime space in nearby Fairfield, CT) has been going on for more than three years, and included the City of White Plains as a potential relocation spot. But Massachusetts and the city of Boston were able to structure an incentive package which both works to offsets the costs of the relocation to GE and benefits the state and the city. The move will begin in the summer of 2016, with employees being moved to a temporary location in Boston.  The full move should be completed in several steps by 2018.

IBM Leads US With Most Patents, 23rd Year in a Row

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Armonk-based IBM has announced that it once again tops the list of annual US patent recipients for the 23rd year in a row.  The company received 7,355 patents in 2015. “During IBM’s 23 years atop the patent list, the company’s inventors have received more than 88,000 US patents,” said Ginni Rometty, IBM’s chairman, president and CEO. “IBM’s patent leadership demonstrates our unparalleled commitment to the fundamental R&D necessary to drive progress in business and society.”

IBM inventors worked to advance their cloud platform, develop new technologies to help machines learn, and work to transform industries.  They have worked to help machines understand emotion, help your cloud run faster and more efficiently, and develop enhanced communication networks at international travel venues.  Samsung, number 2 on the Top Ten list of 2015 US patent recipients, received 5,072 patents in 2015. Microsoft rounded out the Top Ten with 1,956 patents.

Shake Shack to Westchester

Westchester County’s first Shake Shack location is set to open in the Cross County Shopping Center in Yonkers in late 2016.  The critically acclaimed, modern day, ‘roadside’ burger stand has earned a cult following in New York City. Claude Chandonnet, president & CEO of Marx Realty and executive vice president of Brooks Shopping Centers, LLC, the center’s owner, says “the opening of Shake Shack comes as the culmination of a series of several new fashion retailers and eateries to open at the shopping within the last year.”

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This opening also represents an exciting time for the Cross County Shopping Center.  James Stifel, CIO of Beneson Capital Partners, LLC and executive vice president of Brooks Shopping Centers, LLC, the center’s owner says that “Shake Shack will be a tremendous draw for customers coming from both Westchester and The Bronx.”

KG+D Architects’ Managing Principal Inaugurated as AIA President

Russell A. Davidson, FAIA, has been inaugurated as the 92nd President of the American Institute of Architects. Davidson, who is the managing principal and president of KG+D Architects in Mount Kisco will be tasked with representing nearly 88,000 AIA members. Davidson is no stranger to leadership roles.  He served as president of AIA Westchester+ Hudson Valley in 1999 and AIA New York State in 2007, as well as being AIA national vice president from 2012-2013.

At his inauguration, Davidson vowed to “leverage the attention paid to the future of America to point out that architects… not only designed the places that define American cities, towns and villages, but also are the leading edge of a major economic force.”

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Nonprofit Westchester Reaches 100-member Milestone

Croton-on-Hudson’s Crossover Yoga Project—which works to empower teenage girls through both yoga and creative art therapy—became Nonprofit Westchester’s 100th member in January. “We are thrilled with this remarkable milestone,” said Joanna Straub, NPW Executive Director. The mission of the NPW is to strengthen not only the impact and the capacity, but also the visibility of Westchester County’s non-profit sector.  The organization’s ability to achieve this goal is directly related to the amount of members they have. “With a collective voice, we can work together to strengthen the local charities and agencies that greatly impact our county’s economy,” said Straub.

The Westchester Bank White Plains Branch

The Westchester Bank Opens Mamaroneck Branch

The Westchester Bank has announced the opening of its newest branch in Mamaroneck. “Mamaroneck is a perfect location for our fifth and newest branch,” said John M. Tolomer, President & CEO of The Westchester Bank. “Our style of banking, building personal relationships one customer at a time, should mesh very well with what Mamaroneck wants from [its] local community bank.” This style of banking embraced by The Westchester Bank has earned the company a Bauer Financial 5-Star Rating for 2015—the highest industry rating representative of financial strength and excellence and recognition of the work done by one of the fastest growing banks in the country. 

Business Council of Westchester Awarded Job Training Grant

The Business Council of Westchester (BCW) has recently been awarded a grant through the Westchester-Putnam Workforce Development Board. This grant is a continuation of the council’s ongoing efforts to enhance job force training for Westchester youth. The BCW plans to work directly with both employers and job seekers to ensure that young people have access to many different work experiences. “The BCW is committed to helping young people gain the skills they need to compete in a global economy,” said Marsha Gordon, President and CEO of The BCW. “Our direct connection with major industry leaders in the region makes us uniquely qualified to match employers with young people who are hungry to learn and ready to work.” Work experiences that are offered include both summer and year-round employment opportunities. Not only that, but they offer mentoring, pre-apprenticeship programs, internships, job shadowing and on-the-job-training.


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