The Business Council of Westchester (BCW) is deeply concerned about a new tax provision that threatens to undermine American innovation, punishing businesses that invest in research and development that benefits our economy, rather than incentivizing them to continue these pursuits. The new provision runs counter to the rules we have had in place since the 1950s which have enabled American innovation to flourish. Our nation’s economic strength has long been tied to our ability to innovate. Whether it be lifesaving medicines or life changing technological advancements, American innovation has benefitted every one of us, sparking job growth and driving our […]

In what will be Westchester’s business event of the year, the BCW Annual Dinner 2023 next Wednesday will honor Gov. Kathy Hochul with its Global Leadership Laureate Award in recognition of her lifetime of achievement in New York. Governor Hochul is the 57th Governor of New York State, and the first woman to hold this position. Since being sworn into office in 2021, she has proved herself to be a committed leader establishing a bold vision for New York’s future by spearheading comprehensive policies and initiatives to help New Yorkers and their families, while building a stronger, more inclusive economy. […]

The Business Council of Westchester (BCW) is deeply concerned about a tax provision that undermines American innovation. For decades, American businesses were allowed to deduct 100% of annual research and development (R&D) costs that same year, commonly referred to as “full expensing.” Businesses also had the option to deduct (amortize) these costs over five years. When the 2017 Tax Cuts and Job Acts took effect, amortization became the single option for businesses when it came to offsetting R&D costs. Businesses across the country began feeling its negative effects, seeing their tax bills balloon, and in many cases struggling to adjust. […]

BCW Member Regeneron Pharmaceuticals Inc. announced this week that it has expanded its research collaboration with Intellia Therapeutics, Inc. to develop additional in vivo CRISPR-based gene editing therapies focused on neurological and muscular diseases. The collaboration will leverage Regeneron’s proprietary antibody-targeted adeno-associated virus vectors and delivery systems and Intellia’s proprietary Nme2 CRISPR/Cas9 systems adapted for viral vector delivery and designed to precisely modify a target gene. Under the terms of the expanded agreement, the companies will initially research two in vivo non-liver targets. Intellia will lead the design of the editing methodology and Regeneron will lead the design of the […]

BCW Member Greyston, the creator of the no-judgement hiring process known as Open Hiring®, celebrated its new offices with ribbon-cutting ceremony on Wednesday joined by a host of dignitaries who praised the organization for eliminating barriers to employment for thousands. Dignitaries including New York State Majority Leader Andrea Stewart-Cousins, Yonkers Mayor Mike Spano, Westchester County Office of Economic Development Executive Director Bridget Gibbons, Yonkers Council Majority Leader Tasha Diaz and County Legislator Symra Brandon, helped celebrate the opening of Greyston’s new corporate offices on the 12th floor of 20 S. Broadway. “We are excited to begin what we are calling a […]

Congratulations to BCW Member MacQuesten Development LLC on the groundbreaking for The St. Clair, a $60 million development featuring 78 affordable apartments and commercial space in downtown Yonkers. Located at 34 Main Street, the development is a partnership with the State of New York’s Homes and Community Renewal Program, Westchester County and the City of Yonkers. The project is an example of New York State’s efforts to expand housing and transit-oriented development opportunities near MTA transit hubs. In addition, the development will be highly energy-efficient, all electric and part of the State’s Clean Energy Initiative. MacQuesten Development CEO Rella Fogliano […]