City of Newburgh, NY
Medical Technology Business Park

In September 2001, Triad Associates in cooperation with River Street Planning & Development, Lodging Unlimited, Inc., Legg Mason Real Estate Services, Inc., and Edwards & Kelcey Engineers prepared an economic adjustment strategy for the City of Newburgh, NY. Newburgh is located 60 miles north of New York City on the western shore of the Hudson River. One of the recommendations of this strategy was the development of a 17-acre High Technology Business Park, including a 14,000 sq. ft. Medical Technology Incubator.

Newburgh has made a gradual and successful move towards the "New Economy." It has strong retail, healthcare, and wholesale sectors. Its information services sector employs a greater number of people than the U.S. average. In addition, it has excellent highway access, immediate river access and abundant historic, cultural and recreational activities and venues. Yet, it is still a highly distressed City with an unemployment rate of 7.2% and an alarming 25.3% of its population living below the poverty level.

To capitalize on the City’s location and healthcare cluster, Triad Associates has helped the City prepare a grant application for funding from the U.S. Department of Commerce – Economic Development Administration (USEDA) to develop this High Technology Business Park. The West Street Medical/Technical Office Park is anticipated to be the strongest, most technologically advanced development site in the Hudson Valley. The USEDA grant will allow for site cleanup, infrastructure improvements (road, water, sewer, and fiberoptic cable), and construction of the 20,000 sq. ft. technology incubator building. The estimated cost for the project is $2.5 million.

Proximity to I-84 is a critical advantage of the site for attracting further private investment in the area. Thus far, it has also encouraged other investment. A developer has already committed to construct a $2.5 million two-story, 25,000 sq. ft. telecommunications center that will create 200 new jobs. The City also anticipates that the project will create several hundred new higher paying jobs, predominantly in medical/technical/telecommunications fields. Among the Newburgh initiatives that will relate to this investment are a proposed Hotel/Conference Center overlooking the Hudson River, a high-speed light rail system, which is vigorously supported by Congressman Maurice Hinchey and a Sports/Entertainment Complex.