Executive Robert P. Astorino formally welcomed Life Time Fitness to Westchester on Wednesday as the Minnesota-based company broke ground on a new health and fitness center at the former Gannett site in Harrison.
The project is estimated to inject $100 million into the local economy and create hundreds of jobs.
Life Time’s decision to expand to Westchester was made in part because of the sales tax benefits offered through the county’s Industrial Development Agency (IDA).
With over 100 fitness centers and 20,000 employees across the country, Life Time is dedicated to helping people achieve their total health and athletic goals by engaging them in their areas of interest.
“Life Time Fitness is an American success story,” said Astorino at the event Wednesday. “When they were ready to expand in the northeast, they had a lot options. But they chose New York. And they chose Westchester. We are thrilled that the Life Time Team believes in Westchester.”
Life Time’s 200,000 square-foot property at One Gannett Drive is the former home of the "Journal News," which moved its operation down the street earlier this year. The 15-month construction project will create 350 construction jobs and 250 part and full-time employees once it opens in 2014.
Through its partnership with the county’s IDA, Life Time will be able to make tax-exempt purchases for certain items like exercise machines. Over the course of five years, this benefit will save Life Time approximately $2 million.
“Government cannot create jobs, only strong-willed, determined entrepreneurs can do that,” said Astorino. “But what government can do is try to help create an environment where businesses can succeed. And that is what we do here in Westchester.”
On Monday, Astorino announced that he had taken steps to give Northern Westchester Hospital access to low-cost financing for a $36 million project to build new operating rooms. The hospital will be able to save more than $6 million in financing costs by issuing tax-exempt bonds through Westchester’s Local Development Corporation (LDC), which Astorino started earlier this year.
“The partnerships available through the IDA and the LDC are proof that no matter what kind of company, large or small, a non-profit or publicly traded corporation, Westchester County is open for business,” said Larry Gottlieb, director of the Office of Economic Development.
Photo caption (left to right): Jason Thunstrom, Life Time Fitness vice president of corporate communications; Jeff Zwiefel, Life Time Fitness executive vice president and chief operating officer; County Executive Robert P. Astorino; Harrison Mayor Ron Belmont; Frank McCullough, Life Time Fitness attorney; Jeff Melby, Lifetime Fitness vice president of development.