News Release

 

 

For More Information:

William R. Steinhaus
Dutchess County Executive
Telephone:  (845) 486-2000
, FAX: (845) 486-2021, countyexec@co.dutchess.ny.us
 

Date: March 1, 2001

 

JP MORGAN HAILS DUTCHESS ECONOMIC COMEBACK

Dutchess Countyís stunning economic comeback in recent years has received national acclaim by JP Morgan Chase, one of the most highly respected and recognized global leaders in finance and economic research.

JP Morgan highlighted Dutchess County in its February 2001 Financial Digest stating Dutchess County business conditions have migrated 180 degrees, traversing the divide from full-fledged bust to all-out boom. It further states Dutchess County now finds itself firmly ensconced at the leading edge of statewide economic growth. The Digest attributed the Dutchess County success to an effort by the political and economic stewards of Dutchess (who) set about to alter the business landscape.

The highlight of the JP Morgan report on Dutchess County was its acknowledgement other communities had attempted similar comeback efforts but what set Dutchess County above others was that, the game plan was hardly unique but, in Dutchess County, it was deftly executed.

Also noted in the lengthy analysis of the Dutchess County economic renewal was JP Morganís acclaim that, Job growth at this juncture is so fast that if Dutchess County were a separate state, it would be firmly positioned within the top five states nationally when ranked by the speed of private industry job creation.

County Executive William R. Steinhaus said, "We are tremendously proud of the success of our Team Dutchess efforts and the recognition from such a prominent organization as JP Morgan". As the Financial Digest cites, this is truly a national caliber validation of our work. However, we in Dutchess also recognize we have more work to do to create high-quality, stable wage opportunities for the families of Dutchess County, and we will continue to work tirelessly to achieve that goal.

Other recent recognitions of Dutchess Countyís economic revival include:

The Wall Street Journal in October 2000 ranked Dutchess County 6th in the country for growth in household income;

Public Policy Institute, an arm of the Business Council of New York State proclaimed Dutchess County the "poster child for economic development in New York State;"

Forbes listed Dutchess County as one of the best places to live and work in the United States;

Expansion Management in its annual Ratings Issue designated Dutchess County as a 5-star quality of life communityóone of only 40 in the country, and the only one in New York State;

Site Selection magazine in announcing the ten winners for top Corporate Facilities Locations featured Gapís decision to locate its Old Navy distribution center in Dutchess County. The magazine also announced Gapís choice of Dutchess County as one of the Top 10 Deals in the world;

The Wall Street Journal in November 1999 ranked Dutchess Countyís "Big Blue Country" among the 13 hottest regions for high tech in America; and

Real Estate New York took special note of Sikorsky Aircraft Corporationís decision to establish a helicopter facility in two corporate hangars at the Dutchess County Airport.

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2001 Press Releases