Town of Cortlandt, NY

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Economic Development Plans for Cortlandt

Release Date: July 24, 2018

Report on Economic Development Plans in Cortlandt

(since the announcement of the closure of Indian Point)

July 23, 2018

 

~Supervisor Linda Puglisi

 

The Town Board and I are developing plans for economic growth in Cortlandt to offset the loss of revenue ($800,000. each year) and jobs once Indian Point (the 2 nuclear plants) close in the years 2020/2021.  This is 2% of our annual budget and we are being proactive and starting early to attract more businesses/corporations/industry/commercial to Cortlandt in the appropriate locations.

 

The town is a large community and does have vacant land both public and/or private to be considered for this economic growth.

 

The CEO of Entergy, who owns Indian Point, and Governor Andrew Cuomo both announced the closure of our largest taxpayer and employer on January 9, 2017 for the years 2020/2021.  Immediately we established a local task force of key stakeholders and I also became a member of the NYS task force. 

 

The Town Board agreed with me to hire an Economic Development Consultant, which we did (AKRF) and they are assisting us in marketing Cortlandt for new business.  We’re looking at sustainable alternative energy businesses, corporate parks, restaurants and hotels by the Hudson River, etc.

 

We also are saving $100,000. each year from our general fund and placing it in our own cessation reserve fund to offset the loss of revenue once these nuclear plants close.  The town is also working with the New York Empire State Development to assist us with grants for infrastructure and to assist with new businesses.

 

In the northern part of Cortlandt a new shopping center will open in November of 2018 providing more jobs and revenue, as well as, sales tax.

 

I will continue to update our Cortlandt Community on the progress of Economic Growth in our town. Thank you.