T H E 2 0 1 5 H U D S O N V A L L E Y
INDUSTRIES REPRESENTED
Accommodations & Food ServicesArts & EntertainmentExecutive Search/RecruiterFinancial Services & AccountingHealthcare & Educational ServicesInformation TechnologyLegal ServicesLife-Science & BiotechManufacturing & DistributionMedia, Marketing, Advertising ServicesNon-ProfitReal EstateProfessional and Business ServicesOther
BUSINESS CLIMATESURV EY
PERCEPTION
UP
60
%66
% IN
201
4
DOWN
9%
12 %
IN 2
014
SAME
22 %
IN 2
014
31%
44%
55%
8% 73%
55%
42%
of respondents perceive the Hudson Valley business climate as neutral, while 29% perceive it
as somewhat positive.50% perceived it as neutral,
while 34% perceived it as somewhat positive in 2014
of respondents reported their business entity type is a corporation. 59% in 2014
of respondents reported their company had over
500 employees.6% in 2014
2016 REVENUE PROJECTIONS:Respondents' expectations for their company revenues in the coming year.
of respondents reported their company had less
than 50 employees.82% in 2014
of respondents believe their industry is growing.
56% in 2014
of respondents project an increase in hiring in 2016.
50% in 2014
81% of respondents have no plans to relocate.
83% in 2014
29
0 R
ESP
ON
DEN
TS
Ulster
Dutchess
Putnam
Westchester
Rockland
Orange
Sullivan
Overview Perception by Hudson Valley business people of the local economy is drifting lower as respondents from the 2015 Hudson Valley Business Climate Survey are growing more negative than a year ago. For example, only 44 percent of respondents believe the Hudson Valley business climate is in neutral territory and 29 percent see it as positive, compared with 50 percent and 34 percent a year ago. Only 42 percent of respondents expect to increase hiring next year, compared with 50 percent a year ago who were projecting adding staff this year. Meanwhile, only 60 percent of those respondents also say that they are projecting revenue to rise in the coming year, compared with 66 percent who indicated that last year. More have moved into stable revenue projections (31 percent, compared with 22 percent a year ago).
DEMOGRAPHICS
For more information:
Laurence P. GottliebHudson Valley Economic Development Corporation
(845) 220-2244
hvedc.com
Chris O’CallaghanJones Lang LaSalle
us.jll.com
us.jll.com/ct-westchester
BUSINESS CLIMATE SURVEY
Respondents were asked to rate their satisfaction of the Hudson Valley region on the following items on a scale from 1 to 5 (1 as being poor, and 5 as being excellent). Scores of the 290 respondents were tabulated to create an average, aggregate score.
RATING THE HUDSON VALLEY
1 2 3 4 5
Availability of managerial/professional workers
3.3 3.3 in 2014
Availability of skilled workers
2.9 in 20143.2
Access to affordable personnel
3.2 in 20143.3
Presence of research universities
2.9 in 20142.9
Proximity to funding sources/financial markets
3.1 in 20143.0
Efficient transportation systems
2.9 in 20142.5
Quality of life (culture, recreation, crime rate, etc.)
3.7 in 20144.1
Competitive incentives/tax exemptions
2.4 in 20142.6
Low overall tax burden
2.2 in 20141.9
Low overall costs
2.3 in 20142.2
Cost of living
2.3 in 20142.4
Availability of a good K-12 education
3.5 in 20143.6
Business-friendly government
2.6 in 20142.7
About the Survey The survey is a joint partnership study between the Hudson Valley Economic Development Corp. and Jones Lang LaSalle.
The 2015 Hudson Valley Business Climate Survey was recently distributed to a variety of businesses throughout the Hudson Valley. The purpose of the survey was to gain insight into the business community’s outlook for their industries and for the region as a whole. There were a total of 290 responses.