Yonkers unveils office complex in bid to nab small businesses

A new, 8,000-square-foot state- and federal-funded business center is set to open in Yonkers next month, according to the Wall Street Journal, as part of an ongoing effort to attract more small businesses to the area. The business complex, known as the Y-Enterprise initiative, will provide eight small businesses with office space for three years, with low-cost rents ranging from $500 to $2,500 per month. This so-called business incubator, which received almost $1 million in state and federal funds, is the latest step Yonkers has taken to revitalize its business community, after large manufacturers, such as Alexander Smith Carpet and Otis Elevator, moved out. Louis Kirven, Yonkers’ city planning and development commissioner, said the city is trying to transition out of its manufacturing roots. “We’ve been making investments for the past 15 years, and now the key is to attract the next generation of entrepreneurs who will build the wealth, start companies and create jobs that stay in Yonkers,” Kirven said. [WSJ]