Gotham Gazette

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Economy

Economy

  • Rethinking Economic Development in the Post-Covid World

    Rethinking economic development (photo: Edwin J. Torres/Mayor's Office)


    The COVID-19 pandemic has profoundly altered state economies. At this point, it’s clear that some of the changes will last, with significant implications for how governments should think about the future. State economic development agencies are tasked with building that future and they need new approaches to address these changes.

    In January 2021, with the assistance of staff from the New York Empire State Development Corporation, we began a process

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  • ‘The Streets are Increasingly More Crowded and Dynamic’: Jessica Lappin on the Present and Future of Lower Manhattan

    Lower Manhattan (photo: Edwin J. Torres/ Mayoral Photo Office)


    New York’s post-pandemic comeback has been the subject of near constant debate and conversation among city leaders. Among the areas of the city home to the most uncertainty is Lower Manhattan, a hub of business and tourism where leaders are adjusting to new commuting and international travel patterns and strategizing about affordable housing and uses of public space.

    Jessica Lappin, the President of the Alliance for Downtown New York since 2014 and a former New York City Council member, ...

  • ‘We’re Going Through a Period of Profound Change’: Kathryn Wylde on Shifting Economic Trends and the Future of NYC Central Business Districts

    Back to the office (photo: Michael Appleton/Mayoral Photography Office)


    New York, the business capital of the United States, if not the world, is facing major questions about its post-pandemic recovery based on economic, workplace, and workforce trends. While the city’s major employers have for the most part done very well throughout the pandemic, some sectors are still struggling and remote work has altered the landscape in terms of office occupancy. This has raised questions about the city’s economic recovery given everything from reduced subway ridership and the many economic reverberations from

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  • The Abundant Society: How To Build A Better America - For Everyone

     

    Suraj Patel, the author, on the campaign trail (photo via Patel campaign)


    Today, it’s hard not to be frustrated. The cost of everything – from rent to gas to groceries to clothes to even toys - is going up. At the same time inflation also has another nefarious side effect: wages - which were already stagnant - essentially went down as inflation went up. This is an inflationary pay cut and it means workers are being squeezed from both sides. Rather than putting our heads in the sand, or pointing to alternative data points to try and deflect people's pain, it’s time for real

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  • Max Politics Podcast: New York City Economic and Workplace Trends, with Kathryn Wylde

     

    Opening One Vanderbilt in East Midtown (photo: Michael Appleton/Mayoral Photography Office)


    May 11, 2022 - Max Politics Podcast: NYC Economic and Workplace Trends, with Kathryn Wylde

    Kathryn Wylde, President and CEO of the nonprofit Partnership for New York City, a business association of the city's largest employers and business leaders, joined the show to discuss economic and workplace trends, the future of work, the health of the city's office sector and central businesses districts, Mayor Adams' leadership, and more.

    Listen to the conversation and let us

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  • Max Politics Podcast: The Future of Lower Manhattan, with Jessica Lappin

     
    Lower Manhattan (photo: @DowntownNYC)


    May 10, 2022 - Max Politics Podcast: The Future of Lower Manhattan, with Jessica Lappin

    Jessica Lappin, president of the Alliance for Downtown New York and former City Council member, joined the show to discuss the future of Lower Manhattan, including the area's evolution over time, office occupancy, tourism, affordable housing, and more. That includes the work of The Downtown Alliance, which manages the Downtown-Lower Manhattan Business Improvement District, publishes research, provides services, and advocates on behalf of

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  • Employers Reconsider College Degree Requirements in Post-Pandemic Economic Recovery

    Opening for business (photo: Edwin J. Torres/Mayoral Photography Office)


    The pandemic has produced both soaring unemployment in New York City and a host of booming industries hungry for employees. Business leaders and the young administration of Mayor Eric Adams, alike, are looking to spend significant resources to connect candidates to jobs in traditional and emerging sectors. But executives are beginning to see one long-time driver of economic inequality as a particular barrier to tapping New York's 250,000-strong unemployed workforce: the college degree

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  • Experts Analyze Future of New York City's Central Business Districts

    At the stock exchange (photo: Michael Appleton/Mayoral Photography Office)


    The COVID-19 pandemic has wreaked havoc on New York City’s core Central Business Districts – particularly Midtown Manhattan and Lower Manhattan – which are home to the businesses and industries that are the biggest drivers of the city’s economy.

    The lockdown and stay-at-home orders forced by the pandemic changed the nature of work in the city and beyond, and though the office sector – including the information, financial and real estate, and professional and business services industries that occupy so much of the space

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  • A Model for Accelerating Growth of Minority-Owned Businesses in New York City

    Opportunity for growth (photo: Ed Reed/Mayoral

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  • As Mayor Adams Takes on the Issue, City Council Examines NYC Workforce Development Programs and Plans

    Mayor Adams visits a factory (photo: Michael

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  • 4 Keys to an Equitable Economic Recovery from the Pandemic in New York

     

    Ground-breaking (photo: John McCarten/City Council)


    A month before COVID-19 swept through the five boroughs, headlines about New York City’shistoric economic growth were abounding. Yet, even as the growth of the city’s economy reached historic heights, a crisis of inequity persisted in Black and brown communities, who were facing higher rates of unemployment, less investment and growth, poorer health

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  • Max Politics Podcast: A Vision for Limited Government in New York

    The Capitol Building in Albany New York (photo: Mike Groll/Governor's Office)


    March 16, 2022 - Max Politics Podcast: A Vision for Limited Government in New York

    Peter Warren, research director at the Empire Center for Public Policy, joined the show to discuss a limited government vision for New York's economic and fiscal policies, including lowering taxes and reducing government spending.

    Listen to the conversation and let us know what you think, on Twitter @TweetBenMax. You can listen to the show through the embedded

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  • Legislators Introduce Bill to Extend and Expand NYC Freelancer Protections Across New York State

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    Freelance photography (photo: NYC Department of Consumer & Worker Protection)


    In 2017, New York City’s “Freelance Isn’t Free” legislation took effect, giving gig workers crucial protections against exploitation and wage theft. State Senator Andrew Gounardes and Assemblymember Harry Bronson are now attempting to replicate the law state-wide with a new bill they introduced on Thursday that would expand state labor law protections to freelancers.

    The bill from Gounardes, a Brooklyn Democrat, and Bronson, a Rochester Democrat,

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  • 'An Unprecedented Job Program': Adams Promises Overhaul of Workforce Development in New York City

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    Mayor Adams at a small business (photo: office of Eric Adams)


    New York City’s wounded economy and the rise and fall of key sectors during the pandemic has heightened pre-pandemic concerns about the match between the labor needs of employers and the skills of hundreds of thousands of jobseekers. Eric Adams made better preparing the city's workforce a major area of focus as he pitched his vision of the city's recovery to New Yorkers in his successful campaign for mayor.

    "We are going to launch an unprecedented job program to link

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  • Identifying Programs from Elsewhere to Boost New York City's Economic Recovery and Transformation

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    NYC resources for city residents in need (photo: Ed Reed/Mayor's Office)


    As the economic recovery from the covid pandemic continues to change the job market, experts are looking across the Hudson at a new model to get New York City's workforce ready for the leading sectors of the future.

    In June, New Jersey launched Pay It Forward, a bond initiative to fund workforce training programs for good-paying jobs in growing industries as part of an effort to address the lack of short-term education options for low-income residents. Economists and

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  • Make Workforce Development Essential to Neighborhood Rezonings, Report Says

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    New York City resource fair (photo: Ed Reed/Mayor's Office)


    As New York City government changes land use rules and invests in communities through rezonings, it should make workforce development a key piece of the equation, according to a new report recently released by the Center for an Urban Future and JobsFirstNYC, two non-profit organizations focused on equitable growth in the city. This is especially true, the report says, given the economic impacts of the pandemic, whereby the city is still down roughly 500,000 jobs.

    “Rezonings, which by definition are

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  • Coalition Outlines How Next Mayor Should Address Workforce Development During City’s Economic Recovery

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    Workforce development (photo: Michael Appleton/Mayor's Office)


    Invest in Skills New York City, a citywide coalition part of a state group focused on prioritizing workforce development, recently released a report examining how the city’s workforce development funding is spent and issuing recommendations for the next mayor to improve how that work feeds the city’s economic recovery from the devastation of the covid pandemic.

    In ...

  • Covid Vaccination and the New York City Recovery

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    New York's recovery is happening (photo: Michael Appleton/Mayoral Photography Office)


    New York City was the epicenter of the deadly COVID-19 pandemic as it began in the United States. It recorded its first death from the disease on March 1, 2020. The city’s economy also suffered a massive setback during the lockdown in the early months of the pandemic.

    A full job recovery is still several years away and the major problems that predated covid and persisted through it — poverty, homelessness, affordable housing, unemployment and under-employment — are

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  • New Poverty Data Shows Effects of Federal Relief, Prompts Calls for Continued Aid

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    Federal relief arriving (photo: Michael Appleton/Mayor's Office)


    Despite the coronavirus causing mass death, displacement, and unemployment last year, federal relief staved off the worst of its socio-economic effects and prevented a massive spike in poverty, new Census data revealed this past week.

    While incomes did decline and the national poverty rate increased marginally in 2020, a more expansive poverty measure that accounts for the effect of government programs showed a decrease as millions of people were kept from falling into poverty and

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  • Eight Ideas to Drive New York’s Economic Recovery Now

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    Ribbon-cutting and more ahead (photo: Ed Reed/Mayoral Photography Office)


    It'd be foolish to bet against New York City, but a full and robust comeback from the COVID-19 crisis is not guaranteed without bold action. It’s increasingly clear that the city’s recovery isn’t like any other. Companies are delaying return to work plans, the 10.2% unemployment rate is among the highest of any major city in the country, and the rates of joblessness among New Yorkers of color and young adults are particularly alarming. 

    Meanwhile, no other city is coping with

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  • Pandemic Spurred Major Jump in Out of School, Out of Work Young Adults in New York City: Report

    NYC youth

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


    The number of young adults who are both out of school and unemployed surged during the pandemic after declining for much of the past decade, a new report from the workforce development organization JobsFirstNYC confirmed.

    The analysis, commissioned by JobsFirstNYC and conducted by the analytics firm Chmura, crunched data from the Census Bureau's Community Population Survey to show 27% of 18-to-24

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  • Initiative Offers Blueprint for Inclusive New York City Recovery and Growth

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    City resources on offer (photo: Ed Reed/Mayor's Office)


    The New York City Inclusive Growth Initiative -- an effort organized by three major nonprofit groups -- this week released a “blueprint” of 50-plus recommendations for the next Mayor and City Council to guide an equitable recovery from the devastating covid pandemic. Noting the propensity for change during times of crisis and the history of disasters like Hurricane Sandy and the

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  • As New York’s Economy Recovers, There's a Crucial Role for Internships for People with Disabilities

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    At work (photo: icdnyc.org)


    Even before the COVID-19 pandemic struck, the U.S. unemployment rate for people with disabilities was 2.5 times higher than for those without. The pandemic has had a devastating effect on the employment and job prospects for people with disabilities, but New York’s business and nonprofit communities can play a vital role in the economic

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  • Think Tank Curates 250 Ideas for New York City’s Recovery

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    Hunters Point Community Library in Queens (photo: Michael Appleton/Mayor's Office)


    On Thursday the Center for an Urban Future published a report,  “Blueprint for New York City’s Economic Recovery,” outlining some 250 proposals for the future of the city and drawing upon the ideas of over 175 New Yorkers. A think tank, Center for an Urban Future focuses on securing a robust and inclusive economy.

    The report comes as the city is not only recovering from the devastation of the COVID-19 pandemic but selecting the next class of city government through the ongoing

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  • Democratic Mayoral Candidates Offer Plans for Jobs and Economic Growth

    city resource fair

    A city resource fair (photo: Benjamin Kanter/Mayoral Photo Office)


    According to the Mayor’s Office, the city experienced a growth of 100,000 jobs from December 2020 to March 2021, and expects to gain 400,000 more to reach a total of 4.5 million jobs by the end of 2021. Even as economic indicators have been headed in the right direction in recent months -- including significant job growth -- amid public vaccination, some easing of

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