BJH Advisors awarded 6-month contract to strengthen workforce development, real estate availability, incentives and supply chain for key sector
The Westchester County Office of Economic Development today announced it has awarded a 6-month contract to fortify its life sciences cluster to BJH Advisors, a real estate advisory and planning firm. The chosen firm has assembled a team with deep regional and national life sciences expertise to support this project including: East Egg Project Management, FCA Architects, JLL and WSP Engineering. The selection was finalized following a competitive RFP process which was conducted earlier this year.
Westchester County Executive George Latimer said: “Westchester County is committed to growing and fortifying its life sciences industry. Making a strategic investment to advance this sector will yield local and regional economic benefits for years to come. We look forward to working with the team from BJH Advisors to guide us through this process.”
Westchester County Office of Economic Development Director Bridget Gibbons said: “The economic impacts of COVID-19 and the Indian Point Energy Center closure present an opportunity to reinvigorate our local economy by capitalizing on the strength of our life sciences sector. Westchester County is already home to 20% of New York State’s life sciences employment and boasts more than 200 diverse ventures across the ecosystem. This initiative is important for both supporting our existing life sciences companies as well as attracting new ventures to experience the benefits of doing business in Westchester County.”
The four key areas on which BJH Advisors will focus over the next 6-months, include:
- life sciences talent pipeline and workforce development, including plans to address academic and achievement gaps;
- real estate needs, including new facilities to support industry growth;
- access to investment capital for life sciences companies; and,
- supply chain development, including expansion of infrastructure.
The final deliverable will be an implementation plan that is backed by the life sciences industry and local leadership. The project is slated to begin immediately with plans to conclude in early 2024.
Mayor of Buchanan Theresa Knickerbocker said: “This strategic life sciences initiative will create numerous employment opportunities and career pathways for an entire community that was impacted by the closure of the Indian Point Energy Center. We look forward to seeing this project come to life and having our local talent engaged as part of this thriving industry’s growing workforce.”
BJH Advisors Director Steven Jacobs said: “Westchester County’s close proximity to New York City, highly skilled workforce, established companies, and general excellence in life sciences are a powerful combination for fueling further growth and innovation. Our team is delighted to work alongside the County to develop a strategy that will strengthen this sector’s role as a key economic driver locally, regionally and beyond.”
To learn more about Westchester County’s vibrant life sciences sector, visit: https://westchestercatalyst.com/work/life-sciences/.
About The Westchester County Office of Economic Development
The Westchester County Office of Economic Development works to improve the County’s economic well-being and quality of life. This includes a broad range of activities to attract, create and retain jobs, and to foster a resilient, pro-growth and inclusive economy. For information, visit https://westchestercatalyst.com/.