The Westchester Business Center (WBC) held a Sept. 29 ribbon-cutting ceremony to mark the formal opening of its new facility at Chappaqua Crossing in Chappaqua, the redeveloped former headquarters of Reader”™s Digest.
WBC provides coworking spaces, offices and conference rooms for use as needed and other business services including virtual offices along with clerical and technical support.
The location at 480 Bedford Rd. in Chappaqua is the second for WBC. It has been operating in White Plains at 75 S. Broadway.
This Chappaqua location includes 29 office spaces, 10 coworking spaces, a room for staging Zoom meetings, a therapy room and a cafe.
WBC”™s opening in Chappaqua comes shortly after a report by Research and Markets that shows the global coworking space market is expected to grow from $7.97 billion in 2020 to $8.14 billion in 2021, at a compound annual growth rate of 2.1%. By 2025, the market is expected to reach $13.03 billion, reflecting an annual growth rate of 12%.
Much of the growth is being attributed to companies and entrepreneurs recovering from the effects of Covid and adapting new methods of operation. Market growth is being hindered, however, by the work-from-home aspect of the recovery.
It’s a trend that was developing even before Covid hit, according to the report. Statistics are cited indicating that the number of people working remotely has grown by 44% in the last five years and 7 million people were working remotely in the U.S. before the pandemic.
The report noted that coworking spaces are implementing measures to attract entrepreneurs concerned with environmental issues such as global warming. It said sustainable practices adopted by the coworking space providers offer substantial benefits and are economically feasible.
“Keeping affordable pricing and flexible space in mind, we know WBC”™s new location will continue to be a great resource for businesses and entrepreneurs throughout Northern Westchester,” said Kris Saljanin, general manager for WBC.
