Dutchess and Putnam Counties are located in the Mid-Hudson Valley and have a combined population of just under 400,000, with Dutchess County comprising about three-quarters. The largest cities in the area are Poughkeepsie and Beacon. While Putnam County has always been a largely residential county with little industry, Dutchess County had been a major tech manufacturing hub in the 1970s and 1980s when it was anchored by the presence of IBM. However, the Dutchess manufacturing sector has been hit particularly hard in recent decades, seeing an employment decline of roughly 75 percent since 1990, which ranks among the most substantial manufacturing declines in the country. Over the same period, employment in health and education has nearly doubled, and that sector now employs a much larger share of workers in the area than nationally. Academic institutions like Vassar, Marist, and Bard Colleges, the Culinary Institute of America, and Dutchess Community College have been strong contributors to Dutchess County’s economy. Growth in leisure and hospitality jobs has also been robust, and employment in that sector has rebounded fully from a steep drop during the pandemic.

Economic and Demographic Trends
Dutchess-Putnam Orange-Rockland-Westchester* Kingston* New York State USA
Population1 394,000 1,744,000 182,000 20,201,000 331,449,000
Pop growth, 10-year change1 -0.9% 6.8% -0.4% 4.2% 7.4%
GDP, billions1 $19 $125 $8 $1,725 $20,894
Job growth, 5-year change2 -5.6% -4.1% -7.2% -4.1% 1.2%
Median household income1 $81,900 $82,000 $64,100 $72,600 $67,000
Median home price1 $320,000 $350,000 $220,000 $350,000 $250,000
Pop share age 25+ with BA+1 41.8% 38.8% 31.6% 39.4% 35.1%

1 2020

2 2021

* Neighboring Metros

Sources: U.S. Census Bureau; U.S. Bureau of Labor Statistics; U.S. Bureau of Economic Analysis; IPUMS USA-University of Minnesota. Data retrieved through data.census.gov, Moody's Economy.com, or directly from source.

Reports & Analysis
Regional Employment Trends (September 16, 2022)
Press Briefing on the Regional Economic Recovery (Dec 17, 2021)
Jaison Abel's Briefing on Economic Conditions in the Region (Nov 5, 2021)
Severe Supply Disruptions Are Impeding Business Activity in the Region (Oct 21, 2021)
Jaison Abel’s Briefing on the New York State Economy During the Pandemic (Sep 30, 2020)
Tracking the Spread of COVID-19 in the Region (Aug 27, 2020)
Jaison Bram's Briefing on Regional Economic Conditions During the Pandemic (July 14, 2020)
Finally, Some Signs of Improvement in the Regional Economy (Jun 16, 2020)
New York Fed Surveys: Business Activity in the Region Sees Historic Plunge in April (Apr 16, 2020)
Businesses in the Tri-State Region Struggling to Weather the Coronavirus Outbreak (Mar 30, 2020)
Jaison Abel’s January 2020 Briefing on the Regional Economy with a Focus on Central New York
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