News Story:
Lenovo Chooses Westchester for Headquarters
Lenovo, the Chinese computer giant, recently announced plans to base its global headquarters in Westchester. The decision came on the heels of County Executive Andy Spano's recent trip to China where he met with the Lenovo chairman to lobby for a Westchester location. They talked about IDA benefits, services from the Office of Economic Development, quality of life, talent pool and technological infrastructure. The company, which became the world's third largest PC company following its acquisition of IBM's personal computer business, will occupy 40,000 square feet at 1 Manhattanville Road in Purchase and employ up to 125 people. A permanent headquarters is planned in a build-to-suit complex within the next two years. Lenovo spokesman Steve Foley thanked Spano and said he "looked forward to Lenovo becoming a part of the Westchester and New York State business community."

Feature Stories:
China Trip Imports Impressive Results for Westchester
County Executive Spano's trip to China also generated impressive results for Westchester in other important areas. Joining Spano on the trip were Pace University President David Caputo and Westchester County Board of Legislators Chairman William Ryan along with officials from Pace University and Westchester County. Pace University received accreditation to offer educational programs and joint degree programs with two Chinese universities. Efforts were made to link locally based Starwood Hotels with a Guangzou hotel project and network Westchester engineering firms with a water purification project in Jingzhou. Westchester forged a sister city relationship with the city of Taizhou and an effort was made to woo a wood manufacturing company seeking a US-based home office. Chinese artisans were recruited to visit Westchester and repair a Chinese pavilion at Lasdon Park. The trip showed the value of maintaining a pro-active economic development strategy in a global economy. For information about doing business with China, call Daisy Yau at (914) 995-2174.

Bridgecom Consolidation Reflects Strong Economic Numbers
Recent announcements by Lenovo and Bridgecom, which plans to expand and consolidate at 800 Westchester Avenue in Rye Brook, reflect the strength of Westchester's economy. The first quarter 2005 office vacancy rate for Westchester is a healthy 14.7% and the March unemployment rate is 3.7%. Bridgecom is a private telecommunications service provider that specializes in Internet-based needs and telephone systems and employs more than 270 people. More than 70% of Westchester's office leases are retentions - expansion of local businesses. Both Bridgecom and Lenovo received financial assistance from the County of Westchester Industrial Development Agency.

New Transportation Service for Commuters:
Nu-Ride Service Provides Free On and Off Road Benefits
Westchester County has joined the Nu-Ride program along with corporations such as Swiss Re, MasterCard, Morgan Stanley and Starwood Hotels. Nu-Ride is a free Internet web site that allows people to arrange shared rides to work, shopping or to the next Yankee game. In return, participants can earn up to $1,000 in cash rewards with participating retailers. At present there are 243 Westchester residents participating and they have earned $2,534 in rewards and saved $8,420 in gas, tolls and parking. Nu-Ride is different from car pooling where there are time and destination obligations. For more information please click on:http://www.nuride.com

Small Business:
Resource Book Available
A new resource book for businesses, sponsored by Citibank and with chapters by Westchester economic development professionals, will be available for free in May. The book will be unveiled at a kick-off breakfast on May 19 in White Plains. The book will identify all types of assistance available to businesses from job training to education to incentive zones to financial assistance. Advance orders can be made by contacting Terry Masterson at (914) 995-2988 or tmm5@westchestergov.com The book will be available after May 19.

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