Industry Clusters
Westchester County's comprehensive economic development plan identifies key industries -- referred to as "clusters" -- as key players in the region's economy. Each of these growth markets is cultivated with a unique approach based on its needs.
These clusters include Information Technology, Biotechnology, Environmental Engineering, Education, Headquarters & Corporate Services, Manufacturing and Tourism.
Information Technology - There are more than 900 technology-related companies, employing nearly 14,000 professionals, which call Westchester County home. These include software firms, Internet service providers and telecommunications companies. IT firms thrive in Westchester County, as the county has consistently out-paced neighboring Nassau County, Suffolk County and New York City in terms of the number of patents issued by the U.S. Patent Office.
Biotechnology - Nearly 20 percent of the biotechnology work force in New York - 8,000 employees - is in Westchester County. That's the largest concentration within the state. Plans are underway for a medical research park, additional incubator space and additional educational programs in Westchester County. This cluster is further complimented by the presence of premiere medical and research institutions such as the Westchester Medical Center and the New York Medical College.
Environmental Engineering - Westchester is home to a growing concentration of environmental firms helping private and public sector clients find innovative solutions to their environmental challenges. Firms specialize in a broad range of technologies and services, including: wastewater treatment and water pollution control, solid and hazardous waste management, air quality control, and environmental restoration. Because the United States is a mature market for environmental services, local firms are well positioned to partner with international counterparts and meet the growing demand for services abroad.
Financial Services - Westchester County is host to a growing number of financial services companies seeking to remain in the New York City area but at a reduced cost. Currently employing more than 30,000 persons, financial services is one of the county's key growth areas. From 2002 to 2005, employment in the industry increased by more than 10%, with the most prominent growth seen in securities, commodity contracts, and other financial investments and related activities.
Education - Higher education provides approximately 10,000 skilled professional jobs throughout the county. Innovative programs -- many geared to business -- also serve to retain the next generation of workers and business owners in Westchester County. As an example, a new university partnership focusing on e-commerce is linking academic researchers with local businesses. For a selected listing of the County's colleges and universities offering job training and other programs please click here.
Headquarters and Corporate Services - Westchester County's proximity to New York City, coupled with its excellent transportation system, high-tech infrastructure and quality of life, have helped to make the County the corporate headquarters or home of more than 170 businesses. The sector accounts for more than 45,000 employees. More than a dozen of these firms are in the Fortune 500. There are also more than 10,000 local companies throughout the County that support and service these headquarters.
Manufacturing - More than 37,000 persons are employed in the manufacturing sector in Westchester County. The "ripple" effect of this manufacturing employment equates to an additional 60,000 jobs in the area economy. The manufacturing sector in Westchester County is well diversified including firms in printing, chemicals and pharmaceuticals, computers and electronics, textiles, food and beverage and numerous others industries. The Westchester County Industrial Development Agency (IDA) and the Hudson Valley Technology Development Center (HVTDC) can provide further information and assistance.
Tourism - More than 30,000 persons are employed in the County's tourism industry. In the year 2004, tourism spending in Westchester County resulted in an economic impact of more than $1.48 billion, which in turn resulted in $24.749 million in local tax revenue. Tourism is an integral part of Westchester County's economic development growth strategy.
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