New York City and State have spent decades investing outside of Manhattan’s central business district to create jobs and opportunities throughout the five boroughs -- everything from creating new job centers at MetroTech, Brooklyn Navy Yard and Army Terminal to expanding Metro-North in the Bronx to promoting vibrant mixed-use communities from Long Island City to Lower Manhattan, to building a hospitality hub in Jamaica, to reinvigorating the East Shore of Staten Island post-Sandy. These investments have made New York more attractive for businesses and created hundreds of job opportunities for all New Yorkers.
A key component of this economic development strategy has been investment in commercial tax incentives to create jobs in every borough, incentivize employers to relocate to New York City and encourage private funding to rehabilitate aging buildings. These incentives help hundreds of businesses expand and bring new jobs to our communities.
Now we have the opportunity to renew these programs and ensure that businesses of all sizes, especially small and mid-sized businesses, can continue to flourish in New York City.
The Five Borough Jobs Campaign is made up of local economic development corporations, business improvement districts and businesses across the City. Over the coming months, we will be making sure our elected officials understand how these programs benefit the City’s economy.