Demystifying Industrial Development
On June 26th, groups of business owners, developers, non-profit workers and real estate brokers filed into an industrial complex in Williamsburg for Demystifying Industrial Development, an NYCEDC event featuring a panel of savvy industrial business owners and representatives from development agencies that have worked to retain and expand industry in NYC.
After networking, watching videos from the Make It Here Series, and speaking with representatives from business support services like Made in NYC and New York State Environmental Research and Development Agency (NYSERDA), attendees settled down for the start of the panel. NYCEDC Industrial Desk VP Miquela Craytor took the podium to open the event, emphasizing the City’s commitment to supporting the industrial sector. Dan Walsh, Director of the Office of Environmental Remediation, followed with remarks on the development potential unlocked by remediating brownfield sites for industrial uses. The final opening remarks were delivered by Council Member Stephen Levin, who lauded the positive economic impact of industrial development and artisanal production in Brooklyn. On the panel, business representatives Ken Park of Shine Electronics and Ethan Bregman of Ayton Performance were joined by Ray Salaberrios representing Empire State Development Corporation. Moderated by Jeffrey Lee, Executive Director of NYCIDA and Build NYC, the discussion covered topics ranging from navigating government and applying for tax abatements, to accessing capital. The strong partnership between the City and industry to support the sector was reiterated in closing remarks by Seth Pinsky, President of NYCEDC.
Ultimately, the developments by industrial businesses like Ayon Performance and Shine Electronics is a testament to the continued viability of manufacturing in New York City. This trend is echoed by the story of the event’s venue, 630 Flushing Ave, formerly known as the Pfizer building, which has recently been redeveloped into multi-tenant commercial complex by Acumen Capital Partners.
To further industrial development opportunities, just last week NYCEDC announced the release of an RFP seeking the purchase and development of four primarily vacant and underutilized sites across the Bronx, Brooklyn, and Queens. The sites possess the potential to house growing industrial businesses looking for ground-up development of new facilities. Through the RFP, NYCEDC is enabling and enhancing the growth of the City’s industrial base and generating and preserving quality jobs for the local community.