Gotham Gazette

The Place for New York Policy and politics

Economy

Economy

  • experts revive tourism

    Visitors to the Statue of Liberty (photo: Spencer T Tucker/City Council)


    New York City’s tourism industry has a long road to recovery and a lot to learn from other cities like London, which has kick-started its economy through hyperlocal tourism, to come out of the coronavirus pandemic recession. During a virtual policy forum this week hosted by the Center for an Urban Future, top

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  • flushing cover face

    The authors write about opportunity for Queens (photo: Michael Appleton/Mayor's Office)


    The last several months have taken a tremendous toll on our local economy. Over 20 percent of New York City residents were unemployed in June, a level not seen since the Great Depression. Thanks to our frontline heroes and the leadership of our elected officials, we’ve flattened the curve and New York is winning its battle against COVID-19. Now it’s time to get New Yorkers back to work.

    Through a community-centered process, with buy-in from local community

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  • all sidewalk active

    (photo: Demetrius Freeman/Mayoral Photography Office)


    Residents and businesses across the five boroughs continue to struggle as New York City begins the long process of economic recovery from the impacts of COVID-19. At times like these, it is the responsibility of city officials to not only create new opportunities but also to protect and sustain the jobs we have.

    That is why, amid all the much-needed public discussions around workers in hard-hit sectors, the construction industry – which employed ...

  • reyna rob program

    (photo: William Alatriste/City Council)


    The Coronavirus pandemic has wreaked havoc on New York City’s economy and has revealed, and exacerbated, the existing socioeconomic disparities that afflict communities of color in the city. As Mayor Bill de Blasio’s administration looks to ensure a fair recovery that focuses on racial equity, a new report shows that there are deep disparities in income and employment for Black New Yorkers that

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  • condo mond

    New York City (photo: Michael Appleton/Mayor's Office)


    After months of being on pause and the ravages of COVID-19, we need to be thinking of ways to jumpstart our New York economy. Just as one can take a seemingly dead battery and revive it with the right charge and a set of jumper cables, we too can help to restart our economy with a charge of the right stimulus: changing the condo conversion laws to make condo conversion easier again. 

    Condo conversion refers to when a developer changes a rental residential building, typically owned by one landlord, to a

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  • New York City economy construction jobs plans

    Getting New York City back to work (photo: Michael Appleton/Mayor's Office)


    With COVID-19 infection rates low and New York moving through phased ‘reopening,’ the attention of elected officials, business leaders, and others has turned toward the city’s economic recovery. This month, two groups, the Partnership for New York City, which represents many of the city’s largest businesses, and a new coalition, the New York Workforce Recovery Strategy Group, have released recovery plans with somewhat different focuses and

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  • 238 economic 600

    New York City (photo: Benjamin Kanter/Mayoral Photo Office)


    July 22, 2020 - Max & Murphy Podcast: A Devastating Economic Picture in New York & What To Do About It

    Kathryn Wylde, president and CEO of the Partnership for New York City, joined the show to discuss the Partnership's new report on the New York City economy, what government and the private sector should both do -- at times together -- to rebuild the city economy, and more.

    Listen to the conversation and let us know what you think -- we're on

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  • stakeholders meeting covid recovery idea 

    Gather stakeholders around the table (photo: Michael Appleton/Mayor's Office)


    Major financial decisions in New York, such as city and state budgets and economic development deals, are typically made behind closed doors in processes that are opaque to the public and rushed through our legislatures. The recent budget deal between Mayor Bill de Blasio and the New York City Council was no different — addressing a $9 billion shortfall with contingencies and fuzzy math. It included an insufficient plan to restart our economy and will

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  • gov cuomo inspect

    Construction needs to boom again (photo: governor's office)


    New York, and the nation, are recovering from an economic hit unlike any other in our history. It has been tough and now is the time to get back to work.

    Let’s build our way out of the pain of the last several months with innovative, ambitious, and transformative projects that will put wages for working New Yorkers back into the economy and let our hard-hit state speed the healing by rebuilding our aging infrastructure.

    Hard work is the backbone of our nation. Hard work is what gives us purpose.

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  • 3 restaurant melba

    Mayor de Blasio & Chirlane McCray dine at Melba's in Harlem (photo: Michael Appleton/Mayor's Office)


    Miriam Milord, the Black owner of BCakeNY in Brooklyn, had to completely reimagine her custom dessert business when the coronavirus pandemic hit New York. She usually served events of around 75 to 100 people, but, with social distancing guidelines, customers cancelled those gatherings. All of her orders disappeared.

    “So that stopped, you know, from one day to the next pretty much,” said Milord. “So not only were we not selling cakes, we also were

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  • announces 200 new ferry service

    Construction workers (photo: Edwin J. Torres/Mayor's Office)


    Labor statistics can be very confusing, especially for the general public.

    The Bureau of Labor Statistics (BLS) just released its June 2020 report, and while it does show an uptick in employment across the nation, economic pain remains widespread. The numbers for New York City and New York State, while they lag behind the national report, show more severe difficulties. A New York Times ...

  • si water hurricane

    Existing infrastructure needs major investment (photo: Ed Reed/Mayoral Photography Office)


    Governor Cuomo traveled to Washington on Wednesday to meet with President Trump, where he pitched the president on infrastructure investments like an expanded Second Avenue Subway and a new Penn Station. The governor is right to push for a national public works program, which would get thousands of newly unemployed Americans working again while tackling urgent infrastructure needs. 

    The last time the nation embarked on a major public works program, it produced dozens

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  • exec bud 18

    Major budget questions loom as coronavirus takes its toll (photo: Edwin J. Torres/ Mayor's Office)


    As we work to show COVID the door, tough budget decisions are ahead. Governments at every level are grappling with the unprecedented toll this pandemic has had on the economy. 

    COVID has laid bare structural inequities too stark to ignore. While some work comfortably from home, others put themselves in danger on the front lines. While some flee to the Hamptons, others pass the virus between family members in cramped New York City apartments.

    These choices become

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  • joseph clara tsai donation foundation

    Ventilators arriving in New York from China (photo: governor's office)


    It’s been incredibly horrifying to watch scenes unfolding at New York City’s public hospitals as medical staff struggle to keep pace with the coronavirus pandemic. Although doctors and nurses—from Kings County Hospital in Brooklyn to Jacobi in the Bronx—have shown remarkable courage under fire, they are under siege from an invisible enemy that shows no mercy to those in its path.

    The situation has been tough for my mother to bear.

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  • New Yorkers seek assistance

    New Yorkers wait on line for food (photo: Michael Appleton/Mayor's Office)


    As New York City shut down amid the coronavirus outbreak, and hundreds of thousands of people lost their jobs and livelihoods, the city saw a massive increase in applications for food stamps and cash assistance.

    According to new data from the city’s Human Resources Administration and Department of Social Services, applications for the Supplemental Nutrition Assistance Program (SNAP), more commonly referred to as food stamps, and for cash assistance have surged since the

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  • cm car riv small bus

    Small businesses are closed or on the brink across the city (photo: William Alatriste/City Council)


    The day after the 90-day moratorium on eviction ends, residential and commercial eviction proceedings will potentially flood our courts, leaving families and small businesses gasping for air. 

    Amid this pandemic, it is imperative that New York City expands the Right to Counsel law by increasing legal capacity to meet the inevitable COVID-19 eviction demand, and, building on this model, establish a new initiative to provide free legal

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  • reyna rob program

    Considering an inclusive recovery in New York City (photo: William Alatriste/City Council)


    As the COVID-19 public health and economic crises continue, so does the conversation about recovery. This past week, the Center for an Urban Future (CUF), a nonprofit think tank focused on economic opportunity and equitable growth, hosted a digital discussion, “Ensuring an Inclusive Economic Recovery in NYC,” featuring several public policy experts.

    Jonathon Bowles, the executive director of CUF, opened the discussion saying “the immediate priorities are clear: keep people

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  • images shot day

    Restaurants are struggling to survive during the lockdown (photo: Benjamin Kanter/Mayor's Office)


    As New York City’s mom-and-pop restaurants struggle to survive in lockdown conditions owing to the coronavirus pandemic, the New York City Council appears poised to help them cut costs by passing a bill to cap fees charged by third-party delivery services, which have proliferated in recent years via phone apps.

    Small restaurants that cannot afford delivery workers or have recognized the popularity of the apps rely on the third-party services like Grubhub, Seamless (which

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  • people New York City crowd

    The people must be prioritized, the authors write (photo: Michael Appleton/Mayor's Office)


    New York remains the epicenter of the fight against the COVID-19 pandemic. And we remain short of resources to tamp down transmission of the virus and to provide the critical economic relief to working families and the most vulnerable New Yorkers.

    Our representatives in Congress need to make sure we get those resources in the next stimulus bill. And starting this week, we’ve been ...

  • coronavirus rec 600

    It's a very rainy day in New York City (photo: Benjamin Kanter/Mayoral Photo Office)


    April 29, 2020 - Max & Murphy Podcast: Job Loss and New York City's Coronavirus Recession

    james parrot 150Economist James Parrott of the Center for New York City Affairs at the New School joined the show to discuss his recent study of job loss in the city at the onset of the coronavirus recession,

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  • 2 experts prep

    Workers are at the forefront of a new effort (photo: Michael Appleton/Mayor's Office)


    New York’s economy will likely take years to recover from the devastation wrought by the coronavirus pandemic, with millions of people unemployed and billions of dollars in lost revenue. A group of experts from the public and private sectors is hoping to create a roadmap to recovery that will help the state emerge stronger from the most challenging socio-economic crisis it has faced in modern times.

    The pandemic has forced the closure of entire industries in New York, with

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  • economy rendering jobs

    When will the city economy re-open, and how? (image: Mayor's Office)


    Billions of dollars in typical commerce isn’t happening as the novel coronavirus, COVID-19, has brought the local economy to a near-standstill, and with the shutdown hundreds of thousands of jobs and billions in expected tax revenue lost from city coffers. The unparalleled scale of the crisis, with no clear end in sight, has made forecasts unpredictable. What’s not in doubt is that the city will eventually have to revive and rebuild its communities, its industries and job market,

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  • bdb 200 citywide

    New York City economy is at a standstill (photo: Edwin J. Torres/Mayoral Photo Office)


    Economists and budget experts concede that they can make no concrete predictions about how long the economy will be in recession because of the novel coronavirus outbreak and the cumulative effects it will have on jobs and revenue. Nonetheless, the consequences that they have been able to forecast show that the city has a tough road ahead, experiencing a worse downturn than in the early 1970s as 1.2 million jobs have already been lost and, with extreme social distancing

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  • bloom sofl

    New York must take learn key leassons as it moves ahead (Photo: Spencer T Tucker/Mayor's Office)


    Though it feels like an eternity, it was only about a year ago that Amazon walked away from plans to build a second headquarters in Long Island City. The online juggernaut was scared out of town by a short-sighted public debate that centered on legitimate concerns about gentrification and displacement but underplayed future-looking arguments about economic growth. At the time ...

  • power105angie

    emergency supplies at a local firehouse (photo: Edwin J. Torres/Mayor's Office)


    As the city and state are on pause and most people are shut in, many (including me) are stunned and anguished about the sudden shutdown of the city’s economy. Restaurants, bars, and personal services are the grout that holds our neighborhoods together. We are heartbroken about all the waiters, cooks, bartenders, manicurists, personal trainers, and others who are now unemployed; many of these people who give character to our lives are now in dire financial straits. The same is true for

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