PO0UGHKEEPSIE – Leaders in industry and development from across the region are hinting that new and growing technologies will be a key factor in commercial development for the Hudson Valley in the immediate future.
At the Hudson Valley Economic Development Corporation’s “Hudson Valley Visionaries” panel held in Poughkeepsie on Thursday, experts talked about how the growing economic development in the region can best be utilized by examining current trends in workforce, tech and real estate development.
Hudson Valley Economic Development Corporation President Larry Gottlieb said along with other tech changes, the popularization of maker spaces and other more progressive work environments, those from the tech industry are themselves even looking to relocate to the Hudson Valley.
“We’ve seen a lot of technologically adept people move up into the Hudson Valley that are looking for opportunities, maybe not traditional office environments, but working in collaborative work spaces and being part of something bigger: a community,” said Gottlieb. “There’s a lot going on and we’ve only touched the surface today.”
Panelists said that increased technology has not only changed the way business is done but has become a factor into what types of properties businesses want to acquire, how much time people are spending working, how distribution and manufacturing are practiced, along with the growing focus on quality of life.
For instance, things like e-commerce have made warehousing highly sought after for companies selling products, as many consumers now do their shopping on the Internet. The high development costs and lack of developable space within New York City is beginning to push companies into the Hudson Valley looking for warehousing, one of many examples that show where the region’s commercial development strengths will be in the near future, panelists said.
The key to success will be taking the technology, and practices affected by it, seriously, said panelist Tim Smith of Crown Castle Fiber.
“Whether you’re a private real estate developer, or on the municipal side, I think it’s a matter of embracing the technology and change that comes along with it,” said Smith.
HVEDC officials said they are going to continue researching these trends but are looking to the future by continuing to evolve existing initiatives like Hudson Valley Play, Hudson Valley Talent and their businesses incubators.
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