As a world city, New York can’t afford to ignore the Big Five tech firms — Apple, Microsoft, Amazon, Google and Facebook. With a combined market value of about $4.2 trillion, these five goliaths account for more than twelve percent of the dollars in the United States stock market. What they do and where they do it involves the whole society and is very important in the world economy.
Port Authority of New York and New Jersey seems to be having cold feet in regard to construction of a $40-million, 20,000-square-foot terminal addition to house a permanent federal inspection station for processing international passengers at Stewart International Airport.
Ulster County executive Pat Ryan appears to be giving a nod to the thought that government is capable of walking and chewing gum at the same time. His message represents a change in approach from that of the Hein administration. Ryan’s style has been more reminiscent of business management than public administration. He’s a problem-solver. He sets measurable goals for improvement in problem areas and deploys personnel toward meeting those targets.
It pays to be skeptical of numbers one doesn’t know much about. In economics, early numbers are often based on assumptions subject to substantial later correction.
Kingston’s burning, but this time don’t blame the British, embroiled as they are with Brexit issues. With median property prices increasing more than 20 percent in the first half of this year over last year’s first half, the market for Kingston real estate is hot.
Ulster County is now signed on to a state law that allows it to levy a 2 percent tax on certain property sales to preserve aspects of community character. We’re talking about real money. One possible local use is to help protect open space.
Maybe badly buffeted Norwegian Air will experience a resurgence. Maybe it’ll thrive again. Maybe it’ll survive only in another form under another ownership. Maybe it’ll go bankrupt.
New Paltz hopes to become the Mid-Hudson REDC’s first-ever village to receive the $10-million state DRI grant awarded annually to a municipality in the region.
Two Kingston projects years in the making marked significant milestones this week, taking important steps toward their larger ambitions. In doing so, they provided clues about the new directions toward which the Ulster County economy is evolving. They are harbingers of change.
Ryan brings a different style to the county executive’s office and an excellent grasp of the local economy. This should be interesting.