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economic conditions in Westchester County

 

According to a report by the Westchester County Department of Planning, Westchester ranks fourth among New York State counties in overall sales volume and number of stores. New Rochelle contributes a relatively small portion of Westchester's retail sales, which reached $7.5 billion in 1992. In that year, New Rochelle's retail sales of $416 million made up only 5.5% of the county's total.

Westchester County includes a small portion of industrial-type space that is 39million square feet or 3.3 percent of the region's entire inventory. Many of the newly constructed establishments were located along the recently completed Interstate 287 between Port Chester and Tarrytown. Manufacturing has seen the largest decline in employment share, falling from 16% in 1988 to 9.8% in 1998. Service sector employment is projected to be responsible for nearly all of the growth in employment over the 1998 to 2003 period.

By 2001, there are expected to be 2,223,131 households with a total income of $170,192,190,000 within 15 miles of the proposed Redevelopment Area. $35,740,359,000 would be available for the purchase of goods and services at retail. $525,000,000 would be spent on major home appliances, and $4,375,000,000 would be spent on other "household furnishings and equipment".