Hudson Valley News
2:42 pm
Fri April 27, 2012

Hudson Valley Economic Outlook

Though the national economy may be sluggish, there are efforts throughout the Hudson Valley to jumpstart the regional economy in hopes of creating new jobs and opportunities ... Hudson Valley Bureau Chief Dave Lucas reports

It's all about determination: from Greene to Westchester counties, governments and businesses have been relentless in their drive to turn the sour economy on its head. Some communities have made great strides while others continue to struggle.

Ron Marquette chairs the Ulster County Development Corporation Board of Directors: he explains that the business climate has always been a challenge.

Things are also beginning to open up for several other Counties: The Hudson Valley Economic Development Corp. (HVEDC) has just announced a new partnership with Hudson River Ventures, LLC- a small investment fund overseen by Sean Eldridge that is pledging to extend capital to businesses throughout the Hudson Valley.

“Corporate executives in the Hudson Valley have been telling us that access to capital is their most critical issue as they try to grow their business,” said Mike Oates, President and CEO of HVEDC. “Sean and Hudson River Ventures is a most welcome addition to the tools available for economic development in our region. HVEDC is thrilled to be Hudson River Venture’s partner. Sean will not only bring needed capital to our market but will also provide business expertise that will help position our region for growth.”

The Orange County City of Newburgh has long-suffered a lack of jobs - Thursday afternoon people lined up outside the Mayor' office to demand jobs: They took issue with Mayor Judy Kennedy's role in tabling a $75,000 proposal to fund Phase 2 of the "Newburgh Builds Newburgh" program, which would connect unemployed locals with city-funded projects. Rae Leiner is an organizer with Community Voices Heard - she says Newburgh's jobs program is badly needed.

The Mid-Hudson Valley area usually averages around 22-hundred job postings a week. Dan Moran of career transition management firm Next-Act says the region’s numbers have softened in recent weeks. Moran points out that just to the south, Metro New York City has been languishing as of late with the overall job market being down some 40-50-% . To job-seekers he says "don't get hung up on the numbers."