NEW YORK CITY—Blair M. Duncan, the Upper Manhattan Empowerment Zone's EVP and COO, has been appointed president and CEO, effective July 1. Kenneth J. Knuckles last month announced he would be retiring from these roles after his 15 years of leadership.
Duncan's responsibilities will include leading UMEZ efforts in economic development throughout Upper Manhattan in the neighborhoods of Central, West and East Harlem, Washington Heights and Inwood.
Joseph J. Johnson III, UMEZ board chairman and SVP at Goldman Sachs, notes Duncan has been an integral part of the organization for years. “We are confident that under his leadership, we will continue and expand upon the work that we're doing as an organization to help revitalize the communities of Upper Manhattan while continuing to grow the relationships with small businesses, and more,” says Johnson.
Duncan began at UMEZ in 2003 as general counsel. He subsequently increased his levels of responsibility and led UMEZ's financing to redevelop the Victoria Theater in Harlem and the George Washington Bridge Bus Station. Duncan played a key role in providing capital access to small businesses in the neighborhood, and structuring grants to cultural institutions in the area. Prior to joining UMEZ, he worked as VP and senior counsel at Merrill Lynch.
“Upper Manhattan has a different landscape than it did when UMEZ was founded, and UMEZ is adapting to continue to serve our communities.” says Duncan. “We look to collaborate and partner with mission-aligned organizations and to continue to support economic development initiatives that create jobs, develop small businesses and build capacity for our cultural organizations.”
UMEZ investments have leveraged over $1.1 billion of private capital investments and this commitment has created nearly 10,000 direct jobs. The organization since its inception has provided $87 million in loans for real estate projects, $57 million in tax-exempt bonds for real estate development and $94 million in grants focused on arts, culture and workforce development. In 2017, UMEZ became a Community Development Financial Institution (CDFI).
Duncan has served on several boards of directors and committees including the Harlem YMCA, the Helene Fuld College of Nursing, and Lawyers Alliance for New York. He currently is a member of the executive committee of the Wharton Club of New York. He received a BS in mathematics from the University of Michigan, an MBA in finance from the Wharton School of the University of Pennsylvania and a JD from the University of Pennsylvania Law School.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
