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New York City: Innovation Central

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Sonam Velani

on 5 March 2015

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Transcript of New York City: Innovation Central

New York City: Innovation Central
Alicia K. Glen, Deputy Mayor for Housing and Economic Development
NYC is More Vibrant than Ever
8.4 million people
800 languages
GCP of $678 billion
25% increase since 2004
52 Fortune 500 companies
300,000 acres of parkland
54 million tourists
Cornell Tech, Phase 1
100s of cultural institutions
But Significant Challenges Remain
21% of New Yorkers live below federal poverty line
50% of residents face substantial rent burdens
Over reliance on few, high-impact industries
Lags behind in infrastructure, including high speed broadband
Difficult to start and grow businesses in NYC
Increasing competition for talent
Equity, Inclusion, Access to Opportunity
Paid Sick Leave

Expansion of the Living Wage Law

53,000 enrolled in universal Pre-K

Plan to build or preserve 200,000 affordable housing units

Incentivize the construction of market-rate housing for a broader range of incomes
Build a
urban economy
5 Key Principles of Our Job Growth Strategy:
Maintain New York as the global capital for innovation.

Unlock human capital by supporting quality jobs and providing access to skills development.

Drive sustainable, resilient, economic growth by making it easier for businesses to start, grow, and thrive in New York.

Leverage City-owned assets to catalyze job growth and promote innovation.

Invest in critical infrastructure to support growth and connectivity.

Manhattan Business Districts
Hudson Yards
Lower Manhattan
Long Island City: Affordable Mixed-Use Communities
Gotham Center
Innovative Manufacturing
Brooklyn Waterfront: Mission Driven Management
4 million jobs across the 5 boroughs
85k new jobs since Jan 2014
6.8% unemployment rate
1% decrease since July 2014
Income inequality is high and growing
Brooklyn Navy Yard
Brooklyn Army Terminal
Bush Terminal Park
15,000+ jobs, on-site training and placement, a wide range of creative industries
Staten Island, North Shore: The Next Technopolis
Staten Island MakerSpace
Homeport Mixed-Use Development
Potential Lighthouse Co-Working Site
Hunts Point: Creating a 21st Century Food Distribution Center
Produce Market
Fish Market
Meat Market
$25 million investment for back-up power system
Enhanced resiliency, lower operating costs
Adds to earlier $20 million investment for coastal protection and waterfront access
Hunts Point Vision Plan
Entrepreneurship, Innovation, and Small Business Success
SMEs represent 98% of firms and almost 50% of total employment

Immigrant Business Initiative - Assist immigrant entrepreneurs

Small Business First - Improve regulatory environment

Expand services for medium sized enterprises
targeted recruitment
enhanced financial planning
advanced business education
Unlock Our Human Capital: Jobs for New Yorkers
NY Designs
LaGuardia Community College
9M more residents by 2040
200k affordable units
160k market rate units
17,300+ units in 2014
Full transcript