Yonkers Mayor Philip A. Amicone Announces Y-Enterprise Initiative

The cornerstone of the Y-Enterprise program is the Y-Enterprise Business Center, a vibrant full-service business incubator dedicated to emerging enterprises, offering emerging businesses the opportunity to focus on business development and growth strategy costs before rent and other infrastructure.

“We’re making Yonkers a destination for business and pleasure,” said Yonkers Mayor Phil Amicone. “The city and the Y-Enterprise Business Center are located less than 30 minutes from midtown Manhattan by train, making access to New York City faster and easier to than it is for many companies that are based in the five boroughs. The future holds unlimited possibilities for our city.”

The program offers “Y-Innovate” for entrepreneurs in the start-up phase who have only one to two employees, at an estimated cost of $500 per month per employee, “Y-Accelerate” is for entrepreneurs seeking to expand their customer bases and who have from one to eight employees. Office space would range anywhere from $1,000 per month to up to $2,500 for space with Hudson River views. “Y-Expansion” will help grow those companies ready for larger spaces to accommodate more than eight employees.

The combination of private offices and communal space also allow for the proliferation of the entrepreneurial spirit throughout the facility. Cross pollination of ideas and business flow are an expected byproduct of the start-up environment. Tenancy in the Y-Enterprise Business Center will also enable qualified businesses to take advantage of significant Federal and New York State tax incentives.

The Y-Enterprise Business Center offers significant infrastructure built in, enabling a business to focus from day one on its mission, rather than administrative details. The Center offers internet and telephone service, access to high-tech meeting rooms and conference facilities, fax, scanner and photo copy machines as well as reception and administrative staff.

The businesses will be provided with business development, legal and accounting support, advice on accessing capital sources and have access to the Westchester/Hudson Valley business community. The center will also offer free networking events on a monthly basis to help them grow within their prospective industries.

“Yonkers is a city on the rise and the Y-Enterprise program will have a major role in that upward momentum,” said Lou Kirven, Commissioner-Planning/Development. “The goal of the Y-Enterprise program is to identify, promote and support the next generation of scalable businesses and enable them to move through the program, from a start-up, to the next stages of development, and perhaps become the next Otis or Kawasaki, which were the backbone of the Yonkers business community.”

The 8,000 square foot Y-Enterprise Business Center is located in the city’s i-Park Hudson, in the heart of downtown Yonkers, steps from the rail station and overlooking the Hudson River and the magnificent Palisades. The revitalization of downtown Yonkers is creating exciting new public spaces, residential offerings, businesses and economic opportunity. The Y-Enterprise program is funded through the New York State Capital Assistance Program with matching funds from the City of Yonkers. The unveiling of the Y-Enterprise Business Center space will take place in mid-April 2011.

Lou Kirven serves as Commissioner and is responsible for the leadership and overall direction of the City of Yonkers Department of Planning and Development. Lou oversees business/economic development and attraction, residential and public facility development activities, strategic master planning, financial and real estate portfolio management and intergovernmental relations. Lou is a graduate of Simon’s Rock, Tufts University and Georgetown University Law Center. Lou serves on the Boards of the Westchester Community College Foundation and the Fairchester Chapter of the Network for Teaching Entrepreneurship (NFTE) and is a member of the Urban Land Institute (ULI).

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