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By fostering economic growth and developing programs that help businesses and entire business sectors achieve success, we strengthen the City. Our work helps create jobs and positions New York City for future growth while improving the quality of life. We make the City stronger.
There is no shortage of food options in New York City.
With food as creative and diverse as pizza, bagels, sushi, empanadas, artisanal cheese, and all of the ethnic offerings in between, New York City is rightfully called the food capital of the world.
The business of food is booming throughout the five boroughs. Food service is how young entrepreneurs, immigrants and natives alike, connect their heritage with their city. Add local artisans, street vendors, and restaurateurs, major food manufacturers, and vast distribution networks to the mix, and we see how food is a vital...Read More
By Maureen Ballard, Project Manager, Economic Research and Analysis
New York City's food manufacturing industry has witnessed a strong resurgence since 2005.
After a rapid decline in the number of food manufacturing jobs and businesses in the late 90s and early 2000s, it seemed that food production was moving out of the city for good. However, since 2005, new businesses have seeded and employment has returned to levels comparable to those in 2000. Much of this growth can be attributed to small and medium-sized businesses of less than 20 employees. Food...Read More
What's incubating, NYC?
To date, NYCEDC has helped launch 15 startup incubators and co-working spaces across New York City's five boroughs. Over 1,000 startup businesses supporting 1,500 jobs have benefited from City-sponsored incubators, and these spaces provide affordable working space to innovative and promising entrepreneurs who are building businesses.
This Incubator Series provides an inside look into each unique workspace, the companies they house, and how they promote economic growth in New York City.
By Ivan Khilko, Senior Project Manager, Economic Research and Analysis
New York City is an ideal environment for education technology startups.
With steady sources of funding, as well as access to one of the largest school systems in the country, new companies are able to test their products on a total of two million students (a quarter of the city’s population) and 347,000 teachers (nine percent of the total workforce). CUNY, with more than 480,000 students, is the city's largest public higher education system and twice as large as the entire University Of California system.Read More
We are thrilled to announce South Bronx Overall Economic Development Corporation (SoBro) as the grand prize winner of our third annual Competition THRIVE.
SoBro is taking home a $100,000 award to fully implement their United Business Cooperative. Congratulations, SoBro!
Competition THRIVE challenges community groups, businesses, and other organizations from the public and private sectors to develop creative proposals that support entrepreneurship in...Read More
By Kevin McCaffrey, Senior Project Manager, Economic Research and Analysis
Subway commuting data can offer clues to the residential and commercial use of space in the city.
Like any major city, New York City has some areas that are more residential and some that are more commercial. Getting a better understanding of where people live, work, and commute to can help to inform planning decisions that will support economic and residential growth development in new and emerging areas.
For example, you might think that people work in more commercial areas like Midtown and Lower Manhattan, and live in more residential areas like Upper Manhattan and the other boroughs. The MTA's turnstile data, which counts each rider who enters the subway system...Read More
This post is part of NYCEDC’s Thinking Ahead series, which features editorials from New York City leaders and influencers across key sectors and neighborhoods to foster dialogue around the issues impacting our city.
The following is written by Eric Ho, founder of miLES, a civic start-up that activates urban neighborhoods through the installation of pop-ups on vacant land assets. Here, Eric explains how pop...Read More
New York City has always been the global gateway for immigration.
From the shores of Ellis Island to the halls of JFK Airport, the multi-ethnic, cross-cultural fabric of the City has never been more apparent than through the city's varied cuisine.
Across neighborhoods like Greenpoint, Park Hill, Morrisania, Jackson Heights, and East Harlem - whether it’s selling empanadas on the corner or baking homemade goods - entrepreneurs in these diverse communities have brought us delicious treats and added brilliant new flavors to New York City’s melting pot.
2014 was another busy year for NYCEDC.
Under the de Blasio administration, we embarked on initiatives that create new paths to prosperity for all New Yorkers through expanded living wage laws and the reactivation of landmark cultural institutions. At the same time, 2014 served as a continuation of our work to build...Read More
By Kristina Pecorelli, Senior Project Manager, Economic Research and Analysis
While many will associate John F. Kennedy International Airport with heightened passenger travel this month, the holiday season is also the airport’s busiest time of the year for freight and mail shipments.
In the December Economic Snapshot, we explore the world’s largest international air cargo hub by freight value. JFK International Airport handled more than 1.3 million tons of cargo worth nearly $2 billion in 2013. Though still number one in the world in terms of value, JFK fell four spots in the national...Read More