Westchester County’s 2024 Budget: A Blueprint for Fiscal Responsibility and Growth in White Plains and New Rochelle By James Francis CEO, Paradigm Asset Management
Westchester County’s 2024 budget is a testament to strategic fiscal planning, balancing economic stability with community growth. The $2.3 billion budget, approved in December 2023, maintains a 0% county property tax levy increase for the fifth consecutive year. This is a significant move for economic hubs like White Plains and New Rochelle, where stable taxation can encourage investment and business expansion.
The county’s commitment to affordable housing — allocating $100 million over three years — aligns with the growing demand for housing accessibility, particularly in high-growth areas like White Plains and New Rochelle. Additionally, the $10 million Business FIRST grant program further supports local businesses, fueling long-term economic sustainability.
Economic Stability and Investment Potential
Maintaining a steady property tax rate in a fluctuating economy positions Westchester as a competitive environment for investors. The focus on affordable housing creates opportunities for developers and businesses, ensuring that the workforce can live near employment hubs.
The Business FIRST grant program supports local enterprises, reinforcing Westchester’s role as an economic leader. Programs like these stimulate job creation and entrepreneurship, particularly in high-traffic economic centers like White Plains and New Rochelle.
Conclusion: A Model for Smart Economic Policy
Westchester County’s 2024 budget sets a strong precedent for fiscal responsibility while investing in future growth. By maintaining stable tax rates and supporting key initiatives, the county fosters an environment where businesses and residents can thrive. Investors and entrepreneurs looking at White Plains and New Rochelle should see these measures as a signal of long-term economic health and opportunity.
About the Author: James E. Francis
James E. Francis is a visionary leader, entrepreneur, and thought leader at the forefront of the intersection between technology, finance, and social impact. As the CEO of New York based Paradigm Asset Management Co., LLC, James has spent over 30 years revolutionizing equity investment strategies with a deep commitment to diversity, innovation, and ethics. His work in asset management has consistently focused on harnessing data-driven insights to create more inclusive and equitable financial systems.
Disclaimer: This blog post is for informational purposes only and does not constitute investment advice. Readers should consult with a qualified financial advisor before making any investment decisions.
