Neil DeLuca, a consultant with Fareri Associates, tells Globest.com that the initial phases of the project would be built on county-owned property. County Executive Astorino says he is hopeful that the Board of Legislators will undertake a thorough but expedited review of the lease proposal. DeLuca says that a full review by the Town of Mount Pleasant would likely take about 18 months to complete, although Astorino says that the county has held discussions with Mount Pleasant officials on the progress of the North 60 project.

If the project moves forward, a full build-out is expected to create 4,000 construction jobs and 8,000 permanent positions. It is also projected to create $9 million in annual real estate taxes to Westchester County, the Town of Mount Pleasant and the local school district, as well as $7 million in annual rent to Westchester County.

"This strategic investment positions Westchester to grow smartly in the future," Astorino says. "It creates jobs that play to the strength of the county's highly skilled and educated workforce. It expands our tax base. It respects the environment by employing the latest green technologies and leaving half the property as open space. And it expands the county's growing leadership in the fields of biotechnology and medical science." County officials state that 43.6 acres of the total 80-acre property will be preserved as green space.

Astorino says that the project could provide a significant boost to the county's growing biotechnology sector. Recently, Regeneron Pharmaceuticals announced it was undertaking another $190-million expansion of its operations headquartered at BioMed Realty Trust's Landmark at Eastview property in Tarrytown. He says that like other strong biotech locations across the country, tenants at the park will benefit by forming partnerships with nearby biomedical and higher educational institutions, which in Westchester's case includes New York Medical College, Westchester Community College, Pace University and Westchester Medical Center.