NEW YORK CITY—Perhaps mindful of the economic recovery's dependence on having healthy growth of the labor force, two organizations Thursday issued reports indicating just what the city is doing on the industrial front, and where it needs to go.
In its new research, entitled, “City Support for the Industrial Sector,” the N NYC Independent Budget Office says more than $812 million in capital funds was contributed to the industrial sector from 2002 to 2013, with the bulk of that money spent on projects to upgrade and modernize city-owned industrial properties and wholesale food markets. Comparitively little, the report notes, has been spent on non-profit industrial landlords or on infrastructure in industrial districts not owned by the city.
Meanwhile, industrial businesses claimed as-of-right benefits worth several hundreds of millions of dollars and, since 2002, the Industrial Development Agency has granted industrial businesses discretionary benefits that will ultimately cost the city $135 million.
In its report, entitled, “A 50,000 Job Challenge: Creating Quality Jobs in the New Industrial New York,” the Pratt Center for Community Development and Association for Neighborhood and Housing Development calls on the Mayor to create 50,000 new quality manufacturing and industrial jobs in the next ten years, and lays out the comprehensive zoning, ?nancing, and other programmatic steps that will achieve that goal.
To realize this level of employment, according to the report, City Hall needs to take each of the following four steps: “reinstitute the Mayor's Office of Industrial and Manufacturing Businesses to streamline government operations and ensure that the citywide policies and services are aligned to support business growth and job creation; strengthen and enforce land use and zoning policies to provide the land stability needed for industrial and manufacturing business growth and investment; improve business services for manufacturers to link residents to jobs and improve the competitiveness and environmental performance of companies and support non-profit industrial development to modernize and manage industrial space.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
