Gotham Gazette

The Place for New York Policy and politics

Economy

Economy

  • 1 unveils vision airport

    Joe Biden in New York (photo: Kevin P. Coughlin/Office of the Governor)


    On a new episode of CUNY TV, host Bob Liff talks with four expert panelists -- former City Planning leader Carl Weisbrod, Assemblymember Amanda Septimo, Laura Nahmias of the Daily News Editorial Board, and Gotham Gazette editor Ben Max -- about what's next for New York City's recovery, including what the city may expect from the Biden administration and Democratic Congress. Watch:

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    A ribbon-cutting (photo: Michael Appleton/Mayoral Photography Office)


    In this episode, we discuss the issues of the economy and jobs, and key aspects of what candidates in the 2021 New York City elections are considering, should be asked by voters, and more.

    Find

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    Construction workers at work (photo: Emil Cohen/City Council)


    As our city stays focused on managing what we hope to be the final chapter of the COVID-19 pandemic, we also need to keep thinking proactively about driving a strong and just economic recovery.

    It’s no secret that in my Brooklyn district and across the five boroughs, there’s a long road ahead. Our official citywide unemployment rate is now hovering around 12%, with the highest jobless rates still in Brooklyn, Queens, and the Bronx.

    A recent report showed that year-to-date filings for new

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    Mayor de Blasio at his September announcement (photo: Ed Reed/Mayor's Office)


    New York City went into partial lockdown in March as the coronavirus ravaged the population, bringing a once booming economy to its knees and leaving the city teetering on the edge. The immense flock of tourists ground to a halt; the flow of suburban commuters reduced to a trickle; an untold number of residents fled the five boroughs; “non-essential” businesses were forced to shutter at least temporarily; and people were told to stay inside but for essentials. Many thousands fell

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    (photo: Michael Appleton/Mayoral Photography Office)


    We’ve all been watching events in Washington, D.C. with horrified amazement and trepidation. 

    Regardless of Washington, New Yorkers have work to do at home. We’ve been living through a pandemic for just about a year. Everyone in New York is aware we face major budget crises at the state and city levels. Resolution of our fiscal problems is one of the biggest

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  • gov cuomo delivers

    Gov. Cuomo during his second 2021 SOTS speech (photo: governor's office)


    In his second of four planned State of the State speeches this week, Governor Andrew Cuomo on Tuesday outlined a plan to revive New York’s struggling economy, get New Yorkers back to work, and to prepare them for jobs that adapt to a post-covid future.

    In his first speech on Monday, Cuomo presented a broad

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    An opportunity for workers in an old law (photo: Michael Appleton/Mayor's Office)


    As several cities begin to shutdown again with the hope of slowing the spread of COVID-19, we’re reminded of the timeless words “certain unalienable rights, that among these are life, liberty and the pursuit of happiness.” I’m interested in the unique opportunity to evaluate how that third unalienable right — the pursuit of happiness — matches with the reality of today’s world and steps we can take to improve opportunities for people to pursue and achieve their definition of happiness.

    For Americans, it

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    SBS Commissioner Doris at a small business (photo: @NYC_SBS)


    Frustrated City Council members and hopeful––yet weary––small business advocates took to a hearing Tuesday to express their concerns about the Open Storefronts program launched recently by Mayor de Blasio after outcry from the business community, particularly smaller retailers. Small businesses, many of which are struggling to hold on if they haven’t already closed due to the pandemic and a lack of government help, can enroll in the program that, as of now, will give them through December 31 to sell their merchandise

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  • steve bellone long island business

    Steve Bellone, the author/left, at a local business (photo: @SteveBellone)


    To say that 2020 has been a rough year for New Yorkers would be the understatement of the century. COVID-19 hit us like a mack truck, with the greater New York City metropolitan area suffering the worst.

    Working with Governor Cuomo, we quickly sprang into action to flatten the curve and save lives with a shutdown. But it did not come without a steep toll on our economy and small businesses. After months of strict shutdown rules, New Yorkers finally began to see a light at

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  • pow mov ya

    DNJ Mechanical Corp. moving into Maspeth (photo: BOC Network/Maspeth Industrial Business Association)


    As we get deeper into the current crisis, it’s becoming clearer that New York won’t simply bounce back to “normal.” We need effective strategies to transform our city’s infrastructure and economy. Policies aimed at protecting and growing industrial jobs can improve not only our citywide economy, but the nearby low-income residential communities and the lives of the predominantly of-color manufacturing workforce.

    As industrial business service providers, we ask our current and

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    CUNY Chancellor Matos Rodriguez and students, pre-pandemic (photo: City University of New York)


    College seniors who graduated this June faced a very different economic landscape from the one they saw at the beginning of the school year. A global pandemic shattered the job market, and many industries — including the performing arts, entertainment, restaurants, and hospitality and tourism — were in complete freefall after government-mandated closures. 

    The widespread financial strain that saw unemployment in New York City skyrocket from 4% to well over 20%

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    Eric Adams at a Brooklyn business (photo: @BKBoroHall)


    At the height of the pandemic New York City did the unthinkable in the city that never sleeps: it closed up shop. To stop the spread and protect lives, we shut down everything—including the tens of thousands of small businesses that are the backbone of our local economy.

    The sacrifice was immense. New Yorkers gave up their livelihoods and put their American dreams on hold. Some lost everything.

    It did not have to be this way. One good thing that Washington did during the crisis was to fund a lifeline for small

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    CUNY grads (photo: Edwin J. Torres/Mayoral Photography Office)


    New York City Comptroller Scott Stringer proposed a plan Wednesday to revamp the city's workforce development strategy, including by making CUNY community colleges tuition-free and expanding job training opportunities for people at career crossroads.

    The pandemic has decimated jobs in New York City -- with unemployment at roughly 16%, though some estimates say the “real” figure is much higher -- and shifted forecasts about the future of industries across the board. Advocates and policymakers are looking for ways to

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    Mayor de Blasio at Google in Manhattan (photo: Mayoral Photography Office)


    A series of new reports commissioned by the de Blasio administration to examine ways to develop a more inclusive and robust workforce, particularly in New York City's growing tech sector, lays out both big opportunities and high barriers to achieve them.

    The studies, recently published by the New York City Economic Development Corporation but conducted largely before the pandemic-spurred recession, were designed and conducted by nonprofits, many of which run workforce development programs. Their

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    Gov. Cuomo at the New York Stock Exchange (photo: Darren McGee/Governor's Office)


    This story was published in partnership with New York Focus, an independent, investigative news publication covering New York state and city politics, as part of its launch.
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    As the pandemic roiled markets in the spring, New York recorded surging revenue from an obscure

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    Mayor de Blasio gets ice cream (photo: Ed Reed/Mayoral Photography Office)


    An advisory council created by Mayor Bill de Blasio to speak on behalf of the city’s small businesses hasn’t convened in months and some of its members say their concerns aren’t being heard as the city charts a stunted recovery from the coronavirus pandemic.

    In April, de Blasio announced the creation of several task forces to help lead the city’s recovery efforts, including advisory councils dedicated to specific sectors such as large and small businesses, health care, education,

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  • Manhattan Borough President candidates 2021 MBP

    (l-r) Mark Levine; Elizabeth Caputo; Brad Hoylman; Kim Watkins; Ben Kallos


    The five Democratic candidates running to be the next Manhattan Borough President via the upcoming 2021 election gathered by Zoom on Wednesday for a candidate forum hosted by the Manhattan Chamber of Commerce, with topics focused on the devastated local economy and small businesses in the borough.

    The participating candidates, seeking to replace term-limited Democrat Gale Brewer, were Elizabeth Caputo, a former community board chair on the Upper West Side;

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  • 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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    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 ...

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    (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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    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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