Westchester County Business Journal

Page 1

WCBJ

WESTCHESTER COUNTY

BUSINESS JOURNAL

YOUR only SOURCE FOR regional BUSINESS NEWS | westfaironline.com

Bob Rozycki

January 21, 2013 | VOL. 49, No. 3

Confidence down among top execs BY JOHN GOLDEN jgolden@westfairinc.com

E

In the four-county region served by the Hudson Gateway Association of Realtors, sales of single-family houses, condominiums, cooperatives, and two- to four-family buildings increased 15 percent last year from 2011, with 11,481 residential units sold. The region includes Westchester, Rockland, Orange and Putnam counties. Westchester, which typically accounts for about two-

ntering 2013, CEOs and top executives across New York state show new signs of frustration and more pessimism about business conditions and the state economy. And private-sector leaders in Westchester County and the Hudson Valley are some of the least confident about business prospects in New York this year, second only to the Buffalo region, according to a recent survey. Conducted by the Siena College Research Institute, the annual survey by First Niagara Bank N.A. was expanded in its sixth year to include the eight-county Hudson Valley region, stretching from largely rural Columbia and Greene Counties in the north to suburban Westchester and Rockland counties in the south. First Niagara in 2012 entered that regional market with its conversion of about 100 upstate New York and Fairfield County, Conn. branches acquired from HSBC Bank USA. It operates 24 branches in the Hudson Valley, including 6 branches in northern Westchester and 12 in Rockland. Its regional business banking and mortgage offices are in Nyack. The Siena survey in December drew responses from 199 CEOs, chief financial officers and other senior managers of private businesses in Westchester and the Hudson valley with $5 million to $150 million in annual sales. They represent the service, manufacturing, engineering and construction, retail, wholesale and distribution, financial and food and beverage industries. Statewide, 1,142 corporate leaders were surveyed by Siena researchers. For the first time in three years, the overall confidence index statewide fell well below the 100 mark, the point of equal balance between surveyed leaders’ optimism and pessimism about current and future economic conditions in their industry and across the state. The overall index dropped 12 points from 97.9 near the close of 2011 to 85.9 near the close of 2012.

House Sales, page 6

Confidence, page 6

EXCLUSIVE:

BACK IN THE CAPITOL • 3

The Hudson Valley’s newest member of Congress talks policy with the Business Journal

House sales up, prices down in 2012 BY JOHN GOLDEN jgolden@westfairinc.com

B

oosted by a 30 percent fourth-quarter jump, house sales in Westchester County in 2012 reached their highest level in five years. Yet median sale prices in the county market continued a two-year and three-year decline across housing categories, according to the Hudson Gateway Multiple Listing Service (HGMLS).

@ Campus andEntrepreneur the winners are... • 31 • 23


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