10 Chapter 1: Introduction Since the college was first established, it has been serving Westchester County in New York by enhancing the workforce, providing local residents with easy access to higher education opportunities and preparing students for highly-skilled, in-demand professions. Table 1.1 summarizes the breakdown of the county economy by major industrial sector ordered by total income, with details on labor and non-labor income. Labor income refers to wages, salaries, and proprietors’ income. Non-labor income refers to profits, rents, and other forms of investment income. Together, labor and non-labor income comprise the county’s total income, which can also be considered the county’s gross regional product (GRP). The Westchester County economy Table 1.1: Income by major industry sector in Westchester County, 2022* Industry sector Labor income (millions) Non-labor income (millions) Total income (millions)** % of total income Sales (millions) Other Services (except Public Administration) $1,480 $14,894 $16,375 16% $21,145 Finance & Insurance $8,022 $4,550 $12,572 13% $21,280 Professional & Technical Services $8,387 $2,726 $11,113 11% $18,741 Health Care & Social Assistance $8,157 $1,362 $9,519 9% $14,810 Government, Non-Education $4,685 $1,165 $5,849 6% $28,400 Retail Trade $2,815 $2,604 $5,418 5% $9,066 Real Estate & Rental & Leasing $3,299 $2,008 $5,306 5% $12,578 Wholesale Trade $1,916 $2,889 $4,805 5% $8,057 Government, Education $4,323 $0 $4,323 4% $4,996 Construction $3,174 $797 $3,971 4% $8,125 Information $1,419 $2,287 $3,706 4% $6,164 Manufacturing $1,840 $1,567 $3,407 3% $6,794 Management of Companies & Enterprises $2,304 $242 $2,546 3% $4,143 Administrative & Waste Services $1,881 $512 $2,393 2% $4,320 Accommodation & Food Services $1,190 $979 $2,169 2% $4,104 Utilities $392 $1,712 $2,103 2% $3,573 Transportation & Warehousing $1,330 $579 $1,908 2% $3,823 Arts, Entertainment, & Recreation $935 $569 $1,504 1% $2,370 Educational Services $1,106 $153 $1,259 1% $1,738 Agriculture, Forestry, Fishing & Hunting $34 $17 $52 <1% $105 Mining, Quarrying, & Oil and Gas Extraction $8 $18 $25 <1% $47 Total $58,696 $41,629 $100,325 100% $184,378 * Data reflect the most recent year for which data are available. Lightcast data are updated quarterly. ** Numbers may not add due to rounding. Source: Lightcast industry data 100 + 76 + 67 + 58 + 35 + 33 + 32 + 29 + 26 + 24 + 22 + 20 + 15 + 14 + 13 + 12 + 11 + 9 + 7 + 2 + 1
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