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Mr. Arace is the Managing Member of A & R Global Consulting and the Managing Partner of Arace & Company Consultants, LLC. Mr. Arace directs the work of both organizations, while specializing in economic development and government affairs.  He oversees all real estate development projects as well as administers governmental consulting to corporate clients.

• Mr. Arace has over thirty nine years of extensive experience in both the public and private sectors.

• In his 22 years of experience in Government, Mr. Arace has served in both the Legislative and Executive branches of New York State Government.  Soon after Governor Pataki took office 1995, Arace was appointed Regional Director, New York State Department of Economic Development for the Mid-Hudson Region In 1999; Mr. Arace was promoted to Vice President Regional Economic Development for Empire State Development Corporation’s (ESDC) Mid-Hudson Region.
• The region which encompasses Westchester, Rockland, Dutchess, Putnam, Orange, Sullivan, and Ulster Counties is the size of the State of Connecticut with a population of over two million and has the highest concentration of fortune 500 headquarters located in New York State outside of New York City. Arace was responsible for all New York State economic development activities in the region including; business attraction and retention, marketing, planning and development project management.
• Arace allocated over $800 million in state economic development assistance to businesses, local governments and Not-for-Profits in his seven years as Regional Director/ Vice President.
• Under Mr. Arace’s stewardship, the region continually ranked as the fastest growing in the state and maintained the top deal-flow of all New York State’s regions.  Mr. Arace possesses an in-depth knowledge of New York State’s incentive programs as well as many other States.

The following are Arace’s major redevelopment and privatization projects 1995-2002 at ESDC
 • 12,000 acre Stewart Airport privatization, former USAF base
• City of Newburgh Waterfront
• 2.5 million sq.ft. former IBM site Ulster County
• Rockland Psychiatric Center 350 acres 69 buildings
• Mid-Hudson  Psychiatric Center Poughkeepsie 156 acres 100 buildings
• City of Yonkers Ridge Hill and Waterfront

• Cities of Beacon, Kingston, White Plains, Mount Vernon
• Middletown  Psychiatric Center 170 acre site
• Harlem Valley Psychiatric Center 850 acres with 83 buildings
• 292,000 sq. ft. former paperboard factory on 26 acres. Converted to $50 million Dia Arts Center, Beacon   
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