DEMOGRAPHICS / ECONOMY

Economic Indicators

The Hudson Valley boasts four major industry clusters:

*           Biotechnology and Pharmaceutical
*           Semiconductor/Microelectronics
*           Financial/Insurance
*           Information technology

The businesses that are at home in the Hudson Valley create a diverse and healthy mix of large and small companies that represent an equally wide cross-section of industries. More than 30 foreign countries are represented in more than 240 businesses across the valley. This region continues to attract new companies and expanding businesses, creating favorable incentives through a number of specially designated Empire Zones. Job-creating companies are able to operate on an almost “tax-free” basis for up to 10 years, and these zones provide additional savings on a declining basis for the next four years.