Hudson Valley Economic Development Corporation Announces New Regional Mission,
New Board of Directors with Unprecedented Public/Private Investment and Search for New CEO
NEW WINDSOR, New York (June 4, 2009) – The Hudson Valley Economic Development Corporation (HVEDC), which markets the Hudson Valley as one of the world’s premiere locations for business and has been highly successful in attracting companies and jobs to the region, has reorganized around a new mission and a new board of directors that has dedicated an unprecedented level of private and public sector investment.
Representing seven counties that flank both banks of the Hudson River between New York City and Albany, the regional organization also announced a nationwide search for a new CEO to replace Anthony Campagiorni, who took a position earlier this year with Central Hudson Gas & Electric Corporation. The utility helped launch HVEDC’s international marketing initiatives in 2003 with $7.5 million in funding.
“Given the global economic crisis and the new economic reality in New York State, the Hudson Valley needs a well-coordinated, well-funded regional economic development effort more now than ever before,” said Steven V. Lant, Chairman , President and CEO of CH Energy Group, Inc., who will continue to serve as the chairman of HVEDC’s board of directors. “While the Hudson Valley Economic Development Corporation has made significant strides in creating quality jobs and in promoting our region as a business location, it is time to take the effort to the next level.”
The new HVEDC board of directors comprises some of the Hudson Valley’s top business leaders, as well as the heads of the economic development organization in the seven counties. Confirmed board members include:
Private Sector
- William R. DeCota, Director of Aviation, Port Authority of New York and New Jersey
- Robert R. Dyson, Chairman and Chief Executive Officer, The Dyson-Kissner-Moran Corporation
- John R. Galanti, President and CEO, Galanti Holdings Inc.
- Michael T. Keegan, Regional President, Hudson Valley North and Albany Divisions, M&T Bank
- Steven V. Lant, Chairman, President and CEO, CH Energy Group, Inc.
- William Longhi, President and CEO, Orange & Rockland Utilities, Inc.
Public Sector
- Kevin Bailey, President, Putnam County Economic Development Corporation
- Maureen Halahan, President and CEO, Orange County Partnership
- Ronald Hicks, President and CEO, Rockland Economic Development Corporation
- John MacEnroe, President and CEO, Dutchess County Economic Development Corporation
- Lance Matteson, President, Ulster County Economic Development Corporation
- Timothy McCausland, President, The Sullivan County Partnership
- Theresa G. Waivada, Deputy Director, Westchester County Office of Economic Development
Several other companies are actively considering investing in the organization and additional seats on the board are still open for investors in the private-public organization, Mr. Lant said.
“We know that some of the most successful economic development organizations around the country have one thing in common – a big commitment by their private sector. We need to have that same level of commitment here in the Hudson Valley in order to remain competitive in the global marketplace,” he asserted.
“Each of our seven counties and a number of our leading companies have stepped up and invested in HVEDC at levels that far exceed previous contributions. Now we need other private sector companies in the Hudson Valley to follow suit. The success of this organization – and the future of this region – depends on it.”
New Mission Reflects New Economic and Political Reality
While HVEDC was conceived as a marketing organization, its mission has evolved over the years and now reflects new political and economic realities. One of the key facets of its new mission is to be an aggressive advocate for the Hudson Valley in Albany. The goal is to create a unified regional agenda and speak with one voice for the Valley, in order to secure state support for economic development projects in the Hudson Valley.
“Because our region lacks a central city, we are at risk of getting lost among all the other competing interests upstate and in New York City,” Mr. Lant said. “We must advocate for ourselves as never before, especially our region’s superior attributes and prospects.”
HVEDC also plans to continue to take a lead role in helping the region identify and evaluate sites that can be made "shovel-ready" for businesses to build high-tech manufacturing, office and other facilities. Having an inventory of sites with the necessary permits and infrastructure in place, such as roads, water and sewer, is important because timing is critical when it comes to company relocations and expansions.
The new mission also calls for the revamped board to craft a focused regional economic development plan and to launch an "innovation strategy" to draw more early-stage high-tech companies to the region.
“The days of a single big company coming in as a ‘white knight’ to rescue the economy are long gone,” Mr. Lant commented. “We need to attract many smaller companies that will thrive here, as well as support entrepreneurial companies that will expand and create new jobs. Small businesses now account for the vast share of job growth in America, and we need to improve the business climate for these companies in our region.”
National Search for CEO under Way
Although HVEDC has been conducting a regional search for a replacement for Mr. Campagiorni since his departure on February 1, the organization is now broadening its search nationwide to find the best possible candidates.
“HVEDC’s first five years established a strong platform for future success and this is an exciting time to come aboard in a top leadership position to drive the organization’s next phase,” Mr. Lant said. “We encourage residents of the Hudson Valley and beyond who have the credentials and passion to help shape the future of this region to apply for the job. It’s a tremendous opportunity.”
Since its inception in 2003, HVEDC has played a role in creating 9,267 direct new jobs in the Hudson Valley. More than 6 million square feet of office and industrial space has been occupied and 300 acres of land sold for commercial development. Aggressive marketing to corporate executives, site selection consultants and real estate brokers has also resulted in a 50% increase in awareness of the Hudson Valley region, according to a recent survey conducted by HVEDC.
For more information, visit www.hvedc.com or call 845-220-2244.
Media Contacts:
Steven V. Lant, Chairman , President and CEO of CH Energy Group, Inc.
(845) 471-8323 (24-Hour News Line)
Dariel Curren, Development Counsellors International
(860) 355-1155 dariel.curren@dc-intl.com
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