All Aboard! The Numbers Behind NYC Ferry
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...Read More
Earth Day 2017
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.” 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...Read More
Women and the Economy: A Brief Analysis of the Gender Wage Gap
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...Read More
Which Countries’ Entrepreneurs Will Dominate the Second IN2NYC Application Round?
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...Read More
Pass the Caviar, Casanova: How Much Do New Yorkers Really Spend on Valentine’s Day?
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)  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 ...Read More
From Yvonne Stennett: The Future of Inwood Relies on Us
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...Read More
April Economic Snapshot: Biodiversity in NYC
A closer look at New York City’s biodiversity.
Coyotes in Inwood Park, beavers in the East River, and a Painted Bunting in Brooklyn…in our concrete jungle, it can be easy to think that nature exists somewhere else, but the city’s five boroughs are home to an extraordinary number of habitats and species. In honor of Earth Day, our monthly snapshot takes a closer look at New York City’s biodiversity.
New York City sits at the mouth of the Hudson River, where it empties into the Atlantic Ocean. Freshwater, saltwater, wetlands, and woodlands all make up parts of the cities ecosystem, but plants and animals have also found interesting ways to adapt to...Read More
Crowd Based Capitalism – Thinking Ahead with Prof. Arun Sundararajan
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...Read More
Meet NYCEDC's Urban Assembly Interns
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!Read More
Maria Torres-Springer Takes The Helm As NYCEDC President
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...Read More