Economic & Workforce Opportunity

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NYCEDC and Mayor de Blasio are committed to an economic development strategy that supports communities, helps create quality job opportunities and encourages the growth of a stronger and more vibrant middle class. 

We recognize that our work on behalf of the people of New York City must be about more than bricks and mortar: we have a responsibility to ensure that our efforts help create jobs that pay well and provide ladders to long-term employment and economic resiliency. NYCEDC has established a number of programs to achieve these goals. Please contact us to inquire about any of these programs.

Select Initiatives, Programs, and Resources

Living Wage

On September 30, 2014, Mayor de Blasio signed Executive Order 7, a sweeping expansion of New York City’s Fair Wages for New Yorkers Act. The Mayor’s Order will help guarantee that City development efforts encourage the creation of jobs that pay a living wage, provide access to equitable economic opportunity and serve as models to employers across the city.

Developers and commercial tenants at projects that receive more than $1 million in financial assistance from the City or NYCEDC are required to pay their employees a Living Wage of at least $11.50 per hour with health benefits, or $13.13 per hour without benefits. These rates will be adjusted annually based on changes in the Consumer Price Index.

Developers and tenants who hire employees via significant engagement with a workforce program that serves youth and disadvantaged populations, and is designated as a “Qualified Workforce Program” by the Mayor’s Office of Workforce Development, may not be subject to the Order. 

The Mayor’s Executive Order also does not apply to certain types of City-supported housing developments with high levels of affordability, small businesses with annual gross revenues under $3 million, and projects developed by nonprofits and manufacturers. NYCEDC will continue to work with these developers to pursue applicable skill-building and workforce investments to support their workers and improve their businesses.

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Prevailing Wage

On August 5, 2014, Mayor de Blasio succeeded in persuading the courts to hold the City’s 2012 prevailing wage law valid—reversing a prior decision and paving the way for the law’s immediate implementation. The law requires certain companies that receive at least $1 million in financial assistance from the City or NYCEDC in connection with development projects expected to be larger than 100,000 square feet or to include more than 100 residential units, to ensure that building service employees at those projects are paid no less than the prevailing wage. Prevailing wage rates differ by occupation and are determined annually by the City Comptroller. Examples of building service work include cleaning, security and gardening.

The prevailing wage law does not pertain to certain types of City-supported housing developments with high levels of affordability, small businesses with annual gross revenues under $5 million, and nonprofits and manufacturers.

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HireNYC is a free service that connects the city's workforce with active economic development projects. HireNYC staff members collaborate with real estate developers, City agencies, and communities to assess business opportunities and the need for jobs, and to connect New Yorkers to employment opportunities in their local areas. These valuable services help businesses maintain a competitive edge while creating employment opportunities vital for local communities.

HireNYC can provide businesses with:

  • No cost business and hiring services
  • Access to job-ready and qualified candidates from the local community
  • Vetting and screening processes based on job specifications
  • Recruitment and marketing strategy development based on business hiring needs
  • Administrative leadership and support in hosting recruitment events
  • Space to host recruitment events or interviews

Get more information about the HireNYC program.

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M/W/D/BE Opportunities

Through Opportunity M/W/DBE, NYCEDC helps minority, women-owned and disadvantaged business enterprises grow and overcome challenges that may make it more difficult to compete for contracts and work. The benefits of diversity are maximized when opportunity to participate is available to all. However, many minority and women-owned businesses face obstacles including lack of access to capital markets, stereotypes that restrict opportunity, and limited access to the information and influential networks. These obstacles may prevent them from realizing their full potential.

Opportunity M/WDBE aims to assist in overcoming these challenges by offering networking opportunities, technical assistance and kick start loans to help M/WDBE contractors grow their businesses and compete for projects. The program also seeks to increase contracting opportunities by setting specific M/WDBE participation goals on NYCEDC projects. Opportunity M/WDBE increases the pipeline of M/WDBE certified companies, supports capacity building, and increases utilization of M/WDBE firms on public projects.

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