Economy

Apples, oranges & anomalies

Apples, oranges & anomalies

What if you are uncomfortable with offering tax incentives to businesses to locate in your jurisdiction, worrying that the jobs you are competing for in exchange for those incentives might not be worth the losses in revenues to which you are agreeing? Worried about corporate welfare? What should we be doing differently to spur economic development? In Ulster County as elsewhere, the folks who give the tax breaks are pondering the answers to these questions.  

Scandinavian melodrama

Scandinavian melodrama

It’s ironic. Though discount carrier Norwegian Air is skating on perilously thin financial ice these days, its first full year of international service at Stewart Airport was not responsible for that red ink. On the contrary. Ending the year with a flourish, the airline’s year-end numbers signal an indisputable success at Stewart.

The world of inducement

The world of inducement

Governments at every level routinely offer consequential incentives to induce businesses to locate in the jurisdictions they favor. The premise is that these businesses will hire workers and help local economies. Sometimes these inducements pay off. Often they don’t.

Viking victory

Viking victory

Twenty months into its Hudson Valley venture, the Norwegian Air’s business strategy at Stewart Airport appears to be increasingly successful. It is continuing to demonstrate that despite its location at an airport 65 miles north of New York City it can fill its planes for flights to and from Ireland and Scotland with paying discount passengers.

Hudson Valley real estate predictions

Hudson Valley real estate predictions

What would one say if one had to guess about the direction of Ulster County residential real estate in 2019? My guess for the asset class would be that 2019 will be about the same as 2018 — an encouraging and positive if not quite a spectacular year.

Fish story

Fish story

John Valk remembers when Catsmo established its salmon-smoking business in his town. “They had three employees, and now they’ve got more than 50,” he said.

Doing what’s necessary

Doing what’s necessary

The first week of 2019 brought an unprecedented number of political events in Ulster County that are sure to have a major influence on the way economic development is pursued.