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All Aboard! The Numbers Behind NYC Ferry

 |  NYCEDC

Launching Monday, May 1, NYC Ferry will fundamentally change how the people of our city move.

The new ferry service connects over half a million New Yorkers from Soundview in the Bronx to Rockaway, Queens to where they need to go citywide. This connectivity expands economic opportunity by creating new networks between job-dense neighborhoods, such as Midtown, Lower Manhattan, Downtown Brooklyn and Long Island City, as well as industrial areas like Sunset Park, and residential communities that have long been transit deserts, such as Astoria and Red Hook. NYC Ferry also cuts down on commute...

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Economic Data

Earth Day 2017

 |  NYCEDC

Have you noticed the effects of climate change in NYC? 

Mayor de Blasio notes, “Cities are where most of the world’s population lives, and coastal cities like ours are among those most impacted by climate change.”[1]  Indeed, downpours increased over 70% in the northeast between 1958 and 2010 and New York’s rate of sea level rise, 1.2 inches each decade, is nearly two times higher than the global rate...

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Economic Data

Women and the Economy: A Brief Analysis of the Gender Wage Gap

 |  NYCEDC

It’s an unfortunate reality: on average, women earn 80% of what men do in the United States and 86% in New York City. While the wage gap is smaller than the national average, it has remained stagnant over recent years.

The graph below explores the average wage women earn per industry, along with the gender wage gap within that sector.

Inequality in pay can be explained by looking at two sets of factors that we’re calling (1) direct issues and (2) systemic issues. Direct issues are factors that include women not being promoted or...

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Economic Data

Which Countries’ Entrepreneurs Will Dominate the Second IN2NYC Application Round?

 |  NYCEDC

Today marks the opening of the second application period for the International Innovators Initiative, or IN2NYC Program, which helps international entrepreneurs expand or relocate their businesses to New York City by facilitating collaborative partnerships that qualify entrepreneurs to apply for cap-exempt H-1B visas. Prospective participants can submit an application for the program online through the IN2NYC website from now until May 3, 2017.

During its inaugural application period, the IN2NYC Program received 144 applications from...

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Entrepreneuship

Pass the Caviar, Casanova: How Much Do New Yorkers Really Spend on Valentine’s Day?

 |  NYCEDC

Twenty-sixteen was the hottest year on record – and we don’t just mean the climate!

Valentine’s Day spending was the highest ever last year, but the National Retail Federation (NRF) [1] expects spending to ease a bit in 2017. The NRF survey projects that Americans will spend about $18.2 billion on the holiday this year compared with $19.7 billion last year. For sweethearts across the country, this constitutes an average spending of $136.57 per person; however, spending rises to ...

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Economic Data

From Yvonne Stennett: The Future of Inwood Relies on Us

 |  NYCEDC

Dear Neighbor,

As the Executive Director of the Community League of the Heights (CLOTH), a community development organization dedicated to supporting and empowering all residents in Inwood and Washington Heights, I actively work on addressing an array of community needs, from finding affordable housing to getting better education, from providing health and youth services to revitalizing our neighborhood. CLOTH’s simple philosophy is that our doors are always open to neighbors in need and Inwood is one of our core areas of focus.

Inwood is a hidden treasure, with amazing parks and cultural assets, as well as many existing affordable rental units. Over the years, CLOTH...

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Crowd Based Capitalism – Thinking Ahead with Prof. Arun Sundararajan

 |  NYCEDC

By Maria Surilas, Research Assistant, Economic Research and Analysis

Airbnb, Uber, TaskRabbit and Lyft. These companies are just a few examples of what has been called the “sharing economy.” On Friday, February 26th, as part of its Thinking Ahead speaker series, NYCEDC hosted Prof. Arun Sundararajan of the Stern School at NYU to discuss the evolution and impact of the sharing economy. An authority on what he calls the “Crowd Based Capitalism”, the title of a forthcoming book, Prof. Sundararajan has advised the National Economic Council, the Federal Reserve Bank, the White House, and the Federal Trade Commission on the explosion of...

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Meet NYCEDC's Urban Assembly Interns

 |  NYCEDC

viany and theo

Hi, our names are Viany Mejia and Theodore Perry.

We attend the Urban Assembly School for Global Commerce in East Harlem and have had the opportunity to intern with NYCEDC's Ports and Transportation department this summer. It's been a busy one!

As part of our internship at NYCEDC, we participated in the APA’s Youth In Planning Program. During the weeklong program, we worked on an urban planning project at La Marqueta, a NYCEDC...

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NYCEDC

Maria Torres-Springer Takes The Helm As NYCEDC President

 |  NYCEDC

mts_blog

We are thrilled to welcome Maria Torres-Springer back to NYCEDC!

After being appointed President and CEO last month, Maria Torres-Springer steps into her new role at NYCEDC today.

Maria comes to NYCEDC from her post as Commissioner of the City’s Department of Small Business Services, where she focused the agency’s work around three key pillars: creating good jobs, stronger businesses, and a fairer economy.

From overseeing first-of-its kind...

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Imagine Your #FutureNYC

 |  NYCEDC

bigapps

What's Your #FutureNYC Vision?

That’s the question we posed to attendees at last Thursday’s launch of the sixth annual BigApps competition, NYC’s premier civic tech initiative and the largest civic innovation competition in the country.

futurenyc action

BigApps challenges New Yorkers to build tools that help solve our city’s most...

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