News & Insights

HOW HAS THE ECONOMY AFFECTED YOUR BUSINESS IN 2018?

Last updated on January 2nd, 2019

“For four generations Steingart Associates has been providing printing services from the same location in South Fallsburg. While my great grandfather, grandfather, and dad experienced the boom of the Borscht Belt, I joined the business as the decline started.

“Still, when I started working fulltime in 1979 the hotels such as the Concord, Grossinger’s, Kutsher’s, The Pines, Brickman, Raleigh, Nevele and many others, were still operating and successful.

“If you would have told me that all of these hotels – plus many others – would all be gone I would think you were crazy.

“We survived until now by hard work, expanding our territory, and providing more services such as bringing mail house services in-house. With over $2 billion in development in Sullivan County in the last few years, it is clear that the growth in our County will bring much-needed commerce to my business and the local business community.

“Last year I started investing in additional equipment, expanding the services that I provide. I’m about to purchase a bindery so that I can do larger format die cutting and gluing, embossing and foil stamping in-house to meet the demands of more sophisticated printing jobs. It’s clear that Sullivan is once again a hot spot for developers and investors and that the local businesses are benefiting.”
Ira Steingart
President
Steingart Printing

“At Freda Real Estate, it’s been a very good year for us on the western side of the County. I feel Sullivan County real estate is firmly on the radar of NYC residents looking for second homes. This is due in large part to the positive media coverage the region has received from the Sullivan Catskills (Visitors Association), The Democrat, DV Eight and other publications touting its beauty and attributes.

“After Callicoon was named ‘Best Small Town in America’ by Country Living magazine last year, we really noticed an uptick in downstaters looking to buy here. They appreciate the charm of our small hamlets on the Delaware River, and our art galleries, shops and eateries.

“Online sites such as Upstater, Escape Brooklyn, and Chronogram also contribute to our popularity, lauding our affordability and quaintness. We make sure to mention in our listings how close Bethel Woods is, as well as the new Resorts World Casino, and the upcoming Kartrite Water Park.

“Second home sales have always been a large part of our business, and we look forward to more positive economic news affecting Sullivan County!”
M Lynne Freda
Licensed Real Estate Salesperson, NY & PA
Matthew J Freda Real Estate, Inc.
Former Chairperson, SC Board of Realtors

Jeff Bank’s performance in 2018 has certainly benefited from improvement in our local economy. Both deposit and lending activities are up for the bank in 2018. We’ve seen an increase in commercial lending to small businesses, who are expanding in all markets in Sullivan County.

“Construction activity locally and throughout the Hudson Valley has increased, benefitting all trades. Historically low levels of unemployment translates to more discretionary spending at main street businesses. Real estate transactions have increased, with more residential and commercial activity, both of which benefit the bank. There is a general feeling of optimism about the local economy which I haven’t seen in decades.

“Investors are finally realizing the potential of Sullivan County and gaining the confidence to start new businesses or expand existing ones here.”
George Kinne
President and CEO
Jeff Bank

“The overall economy in Sullivan County has been very good for my business and also for my clients in 2018. There is tremendous optimism throughout the county and most of the people doing business. This leads to people more willing to invest into their projects, business and staff. Companies like mine require economic growth, which is what we are seeing now. So the growth that Sullivan County has been seeing during 2018 is good for most businesses including mine. I believe that most businesses, including mine, saw an upswing in 2018.”
James Bates
Managing Member of
Ecological Analysis, LLC and
current Sullivan County
Partnership Chairman

“2018 was an exciting year at the Forestburgh Playhouse thanks to the burgeoning renaissance in tourism and development in Sullivan County. This past year, our attendance increased as well as the number of new attendees from inside and outside the County.

“Many patrons came to us, after learning about us from their hotels and B&Bs. An increase in international patrons was notable. There is a palpable excitement amongst our visitors as they discover or re-discover the excitement of our Sullivan Catskills!” Franklin Trapp
Producer, Forestburgh Playhouse

“The Sullivan Catskills surge in hospitality growth and investment has become an important economic generator for the County – increasing 15% growth over the last two years, with 2017 reaching $450 million in visitors spending, attributing over $52 million in State and local taxes, and equating to a tax savings per household of $1,922.

“With the addition of new development in 2018, the industry employs over 8,000 people through direct and indirect employment with a labor income of $185 million. These figures will continue to grow over the next five years, already seeing an increase in sales tax in 2018 of 16%.

“There is a bright spotlight on the Sullivan Catskills Tourism industry. New diversified investment has demonstrated true economic vitality, offering a quality of life for residents and future development.”
Roberta Byron Lockwood
President and CEO
Sullivan County Visitors Assn.

“2018 has proved to be a very exciting year for the Town of Thompson. With the Resort’s World and YO1 openings we have seen an influx of new visitors and new neighbors. Unemployment is at an all-time low, sales tax revenues are on the rise and new businesses are opening. The Town of Thompson’s tax rate is dropping for the 3rd straight year, and I am confident that trend will continue and expand Countywide. We are blessed with a chance to turn things around and we are doing everything we can to seize this opportunity.
Town of Thompson Supervisor Bill Rieber

We have experienced markedly increased sales in residential sales and rentals; commercial leases and development properties. While prices have increased nicely, available properties offer good value. We have welcomed many new neighbors to Sullivan County, and we look forward to more of the same in the coming years.”
Bill Rieber
Co-Owner of Rieber Realty, Inc