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

lgottlieb@hvedc.com

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.