Verizon Relocates Corporate Headquarters to Lower Manhattan

Mayor and Governor Join JetBlue to Unveil New JFK Terminal Design

Hunts Point: Food Capital of New York

City Breaks Ground on West Harlem Piers

NYCEDC Issues Request for Proposals

www.nycedc.com

As we embark on this Administration's second term, it's a good time to reflect on the first. Four years ago, we laid out an economic development strategy designed to create opportunity for all New Yorkers. That strategy - to make the City more livable, more business-friendly and more economically diverse - worked, and today unemployment is down in all five boroughs, more New Yorkers are employed than ever before and the City's economy is flourishing.

But there is a great deal more to do. We must build on the momentum we've generated and continue to implement our strategy. Whether it's revitalizing the West Harlem waterfront, moving forward on the redevelopment of the Bronx Terminal Market or supporting a broad range of industries, like airlines, telecommunications and biotechnology, NYCEDC is constantly looking for ways to grow the economy and create jobs.

Andrew M. Alper

Verizon Relocates Corporate Headquarters to Lower Manhattan

Lower Manhattan isn't just being rebuilt, it's being reinvented. While Lower Manhattan remains the center of the world's financial services industry, new companies from a variety of industries are migrating downtown. The latest example is one of the City's largest employers, Verizon. Last week, Mayor Bloomberg, Governor Pataki and Assembly Speaker Silver welcomed Verizon to its new corporate headquarters at 140 West Street in Lower Manhattan. The company moved 1,500 jobs to Lower Manhattan from Midtown and expects to continue employing about 18,000 people throughout the five boroughs. The ceremony also marked the rededication of the landmark building that was badly damaged in the September 11 attacks on the adjacent World Trade Center towers. Verizon follows other companies from a broad range of industries to Lower Manhattan, such as Health Insurance Plan (HIP) of Greater New York, Bowne & Co and Computer Generated Solutions.

Mayor and Governor Join JetBlue to Unveil New JFK Terminal Design

Diversifying the economy is a key component of the Administration's economic development strategy, and one of the City's best opportunities to do that is by growing the tourism sector, including the airline industry. Last week, the Mayor and Governor joined JetBlue Airways to unveil plans for the construction and operation of the airline's new 26-gate passenger terminal at JFK Airport. Along with the new American Airlines terminal, the JetBlue terminal will serve as a gateway to New York City, welcoming tourist and business travelers to the greatest city in the world. The terminal will double the number of flights daily and add 2,500 jobs to its current New York City workforce of about 5,000, along with creating 1,200 construction jobs.

The $875 million project also includes preserving the design of Terminal 5, the historic TWA terminal designed by renowned architect Eero Saarinen. The new, state-of the-art terminal and increased service into and out of New York City is the latest improvement to JFK, and will help secure the City's position as the world's greatest place to visit and do business.

Hunts Point: Food Capital of New York

Hunts Point, already home to one of the most important food distribution centers in the world, continues to be a top location for food-related companies looking to grow and add jobs in New York City. Mayor Bloomberg joined Baldor Specialty Foods and Anheuser-Busch in December to announce their expansions in the Hunts Point section of the Bronx. The projects will bring more than 900 new permanent and construction jobs to the area, and retain about 830 existing jobs.

A month earlier, the Fulton Fish Market also relocated to the area. After spending more than 180 years in Lower Manhattan, this City treasure made its move into a new $85 million, state-of-the-art facility at the Food Distribution Center in Hunts Point, bringing with it 600 employees and about $1 billion in economic activity. The new 30-acre building, which is longer than the Empire State Building is tall, provides a 25% increase in selling space and the opportunity for the 38 wholesalers to grow their businesses. The new facility also adheres to the new food safety regulations set forth by the U.S. Food and Drug Administration.

These items are part of the Hunts Point Vision Plan, which aims to attract and grow businesses, create jobs and make the community a better place to live. This includes a City commitment of $27 million to promote economic development in Hunts Point, and a comprehensive plan to promote a competitive business environment and sustainable community in the area.

City Breaks Ground on West Harlem Piers

Restoring access to the waterfront and revitalizing Harlem are two of the Administration's economic development priorities that were realized when ground was broken on new piers in West Harlem. The $18.7 million project will include a docking pier and a recreational and fishing pier. Open space will be landscaped for pedestrian and recreational use, and a new bicycle and pedestrian path will connect the Manhattan waterfront greenway with the northern section of Riverside Park, creating a space for all New Yorkers to enjoy. The project, which is expected to be completed in Spring 2007, is the first part of the West Harlem Master Plan. The Plan aims to revitalize the West Harlem area through the transformation of neglected City-owned land, improving transportation to support the neighborhood's growth and implementing land-use policies to promote a greater variety of uses.

NYCEDC Issues Request for Proposals

• The Hudson Yards area on the Far West Side of Manhattan is one of the City's greatest opportunities to add much-needed commercial and residential capacity. Working with the Hudson Yards Development Corporation, NYCEDC is seeking proposals for engineering and other technical services for the construction of a platform over the eastern portion of the West Side Rail Yard and the development of office, residential, hotel, retail, cultural and parking facilities and public open space.
• Making City-owned property available for industrial use is one of the principles of Mayor Bloomberg's Industrial Policy. To that end, NYCEDC is seeking proposals from qualified developers with strong track records in industrial development for the redevelopment of a 1.1- million-square-foot, eight-story building, known as Federal Building #2, and an adjacent 100,000-square-foot parcel located in the vibrant industrial waterfront area of Sunset Park, Brooklyn.
• NYCEDC is seeking an on-call consultant to determine appropriate development and environmental effects and responses from NYCEDC-sponsored projects. These studies will be conducted on an as-needed basis and the consultant will therefore be on a retainer contract system.